July 25, 2016

  • 4 Hour continues to break lower.
  • 15 Minutes chart shows a trending move below the cloud. Strength of the move will stay intact till price stay below 15 Minutes cloud.

  • ES 4 Hour continues stay above the cloud. 
  • One hour chart shows a possible bullish contraction. Close above 2170 will extend gains for bulls. Close below the rising support line will favour bears for 2155 levels again.
  • Month chart shows price at crucial resistance zone.
  • Daily chart is shown with the negative divergence. Negative divergence during this up move has not been that effective. corrections for negative divergence has been shallow and not trend changing.
  • Last chart shows daily chart with immediate support zone. Price if starts to trade below 23.6% Fib level will strengthen BN bears again.
  • NIFTY Weekend update


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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