March 8, 2017

  • 4 Hour time frame shows price Falling from the Shooting Star. Price testing 100 Period SMA, A crucial support line for Bulls to hold above.
  • Weekly chart shows negative price action This was preceded by a Weekly candle with long upper shadow. But its early days to talk about the week, Bears need a weekly close at the current levels or lower to confirm bigger weakness.
  • Day is near 20 Day SMA. This line has acted as strong support recently.
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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