February 21, 2017

  • ES one hour chart shows price continues to stay above the cloud and 100 Period SMA. Weakness for bulls only if price starts to stay below the hourly cloud.
  • For the day mild weakness if only price falls below 2349. More strength if price stays above 2354 levels. 
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  • Gold in a range between 1217 and 1246. Right now price is falling from the resistance zone towards the support zone. Weakness will continue as long as price stay below 50 period SMA as shown in chart two.
  • GOLD 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