August 8, 2016

  • Crude oil 30 Minutes time frame has an up trend in place.
  • Weekly chart shows a reversal after a hammer like candle. This bullish pattern will stay valid only if price stays above 39 levels.
  • Short term strength will remain if price stays above 30 Minutes cloud.
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  • smaller time frames live 30 Minutes continues to show strength.
  • 30 Minutes will favour bulls till price stay above the cloud.
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  • Nifty trading in a tight range after a trending day. Major trend yet to be challenged. Week and month chart continues to look strong.
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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