January 29, 2017

  • Month chart shows price violating the broken resistance zone and moving back above it. 
  • Weekly chart too shows the candles coming back to close above that line. 
  • For now the smaller time frame is moving in a sideways channel between 52 - 54 and 56. for a bigger direction or trend to happen price must move breakout or breakdown from this channel. Till then price likely to move between 52 and 56
  • GOLD Weekend update
  • SILVER Weekend Update
  • GOOGLE Weekend update
  • TESLA Weekend Update
  • RUSSELL 2000 BROADENING TOP
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  • Broadening Formations like this one especially in Higher time frames can be used to pick goo swing trades Instead of breakdown or breakout trades.
  • In this case Price has hit the upper boundary of the pattern But there is a Bull Flag which is likely to take price towards the resistance line of Broadening formation again.
  • For bears Immediate levels to watch out for weakness is 50 Day SMA and the low 133.17. close below 50 Day SMA should give some strength for Russell bears.
  • SILVER Weekend Update
  • GOLD Weekend update
  • TESLA Weekend Update
  • GOOGLE Weekend 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