January 12, 2017

  • ES 4 Hour chart shows price falling towards 200 Period SMA, This line acted as support recently.
  • Daily support levels are at 2228 and Rising 50 Day SMA. Price structure will turn bearish only if these levels are broken.

  • Nifty hour shows trend extension. Now the weakness level is raised to 8306.
  • Weekly chart shows 50% at 8431 and Middle Bollinger band or 20 Week SMA at 8435. Now this band becomes the crucial level of resistance for Bulls to cross above.


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"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