September 2, 2016

  • Crude oil 4 hour chart shows price pausing at the golden ratio.
  • One hour chart shows price creating new lows. Bears will gain more strength below 43.01,
  • Gold bulls put up a falling wedge in Hourly pattern which was discussed yesterday. But the bullish attempt got stuck at 1318 level. 
  • Gold bulls must sustain above this level for a bigger bounce to follow. Unable to move above this zone may result in bigger falls.


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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