September 14, 2016

  • Last chart shows price in a broad range between 1300 -  1377 level. Within this range price is moving in a bearish channel. Immediate resistance at 50 Hour SMA. Sustaining above this line may result in a bounce.
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  • Weekly chart shows price trying to hold on to previous resistance zone. For a bigger fall bears must break and stay below this level.
  • Daily chart also shows 38.2% and previous resistance acting as support for now.
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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