December 22, 2015

 
  • First solar weekly chart shows a broad range between 39 and 74. Within this zone 66 is a crucial resistance area. Daily chart shows a golden cross but this one will perform well only if price is able to close above 66 levels. Previous golden cross did not perform well because of resistance at 66 levels. For bears immediate strength if price closes below 62 levels.



  • First chart shows the Month time frame with its MACD Sell signal. Price is trying to put up a Topping pattern. Bears need price to stay below 1850 to gain further momentum. 
  • Next 2 charts shows price pausing above the Immediate support level of 1890 - 2000.

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"All through time, people have basically acted and reacted the same way in the market as a result of: greed, fear, ignorance, and hope. That is why the numerical formations and patterns recur on a constant basis."
—Jesse Livermore