March 7, 2017

  • Month chart show crude oil in contraction.
  • The high and low of January month candle is crucial. Only a close outside this range will take crude oil away from the Range.

  • Gold one hour chart shows price trending down.
  • But the falling price is moving towards crucial support zone between 1217 and 1222 levels. If this level holds another up swing will start.
  • Bigger bearishness if this level is not held. Possibility of visiting 1180 levels if the above mentioned support level is not held on closing basis.


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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