January 19, 2017

  • The trend lines and Moving averages are getting tested again. This time the price action also suggests that bulls are getting exhausted after a good run, But the directional change is yet to be confirmed. Bears can gain strength only if price starts to trade below 1200 levels again. Usually after such bullish moves price starts a consolidation sideways move to keep both bulls and bears guessing before taking a directional move again.


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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