November 20, 2016

  • Gold Month chart shows price testing the middle of a broad range.
  • Crucial support zone between 1180 and 1200.
  • 4 Hour chart shows price giving new lows.
  • One hour continues to stay below 100 Hour SMA. For a bounce to start price must first move and stay above this line.

  • Crude oil moves above back above 200 SMA
  • 4 Hour chart too shows price above the cloud.
  • If price holds above the cloud or 44 levels a bullish swing is possible. 
  • Crude oil bears need to take price back below 200 SMA.


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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