November 25, 2016

  • Apple daily chart shows price moving towards 50 Day SMA.
  • Both Hour and daily time frame shows resistance at 112 and 113 levels. Daily close needed above these levels for 116 and 118 levels. On the contrary if price stalls at 50 Day SMA a correction towards 107 and 104 levels are possible.
  • TESLA Chart analysis
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  • TESLA Month chart shows price bouncing from the support zone
  • Price nears resistance line of 50 SMA at 197.
  • Price may target the 200 SMA only if closes above  50 Day SMA. Unable to close above 50 SMA should take price towards recent lows again.


  • We have seen those inside day patterns work well when a candle develops within the real body of the previous larger candle. Breakout happens when price breaks the high or low of the larger candle. But here price has been trading inside Monday's range for the past 4 day's. So this 186 point range becomes crucial. 8100 and 7900 being round numbers becomes even more important.
  • Hour chart shows immediate resistance at 8050. Bulls must sustain above 50 Hour SMA and 8050 for a bigger up move to follow.
  • Bears to extend the trend need to break below 7900.
  • GOLD Chart Update
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  • One hour chart shows price testing recent low.
  • 4 Hour chart shows price in a bearish channel. Price for now is quite close to the support line.
  • Weekly chart is moving towards support zone near 15.80 levels. If 15.80 holds a bounce is possible. 
  • GOLD Chart Update
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  • Price volatility may increase as price nears 100 Hour SMA in one hour time frame. For now though price is moving in a small range.
  • One hour chart shows price contraction in a triangle. For crude bulls price should stay above 48.41 levels which may target 50 plus levels. For bears 47.41 may take price below 46 levels.
  • EURUSD Month Support zone
  • GOLD Chart 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