July 19, 2016

  • Crude oil near apex of the triangle should give a breakdown or breakout soon.
  • bullish if stays above 46.90 and bearish below 44.40  levels.

  • Netflix near 200 SMA. Recent attempts to stay above 200 SMA has failed as shown in first chart. Crucial chart for Netflix is the Month time frame which shows contraction. This contraction can soon lead to a bigger breakout or breakdown.

  • 30 Minutes chart shows support zone for the day. Closing below this level may lead price towards the GAP shown in one hour chart. Bulls need to stay above the support zone to avoid bigger weakness.


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My Favourite Quote

"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