THANKS ILANGO SIR
- I posted MY FIRST POST
on 7th April 2010 and i was wished and shown direction on the same day by the Master (Ilango Sir) . I was inspired by the knowledge, Experience and the consistency of masters work which led me to start this blog and i had the fortune of getting his wishes from the beginning itself. I continue to learn from the master. Thank you Sir.
- Thanks to all those who read the blog special thanks to all friends from JUSTNIFTY and SLOPE OF HOPE of Tim Knight for supporting me from the beginning.
- Thanks to all fellow bloggers and experts of stock market (Anna , Leo, Steveo, Tony caldaro,
Cobra, LB, S Blonde, Jack, AARVEE, Money manthan, Bramesh and many others).
- Silver week sustaining below 50 Week SMA will continue to favor bears for a bigger correction towards the support line of the Big Descending Triangle pattern.
- Up moves from here should trade above 50 Week SMA and the falling resistance line for a bigger turnaround to happen.
- Silver bulls have been expecting the golden cross to happen But its getting delayed 50 SMA is moving away from 200 SMA, a fast fall is likely if this setup remains like this.
- Price sustaining below the cloud will favor bears on every rise.
- GOLD NEAR LONG TERM SUPPORT LINE
- price traded in a small range and closed below 20 Day SMA.
- Last chart shows the small range(1392 - 1401) just above 200 Hour SMA. Once price breaks out of this range we will get a bigger move.
- Breakdown below 200 Hour SMA should target 1386 levels.
- An upper breakout should help bulls to continue the primary trend.
- US DOLLAR NEAR RESISTANCE LINE
- SPY Four hour testing 50 period SMA.
- Price is also near the Ichimoku cloud of four hour time frame.
- Getting support here may help bulls to resume the up trend.
- Breaking below these two levels may change the trend in favor of bears and bigger fall might unfold.
- US Dollar near resistance line.
- Price has broken above the daily cloud. To continue the up move price need to stay above the resistance line.
- GOLD NEAR LONG TERM RESISTANCE LINE
- IBM has fallen below the up trend line.
- Price has violated the 20 Day SMA. Daily candle trading and closing below 20 SMA will favor bears to extend this correction.
- below 20 SMA price may find support near 23.6% Fib level. Next price cluster is near 38.2% Fib level which may act as strong support. For now bears of IBM need a close below 20 SMA.
- GOLD Near Long term support line
- ES Four hour chart approaching 200 period SMA.
- Daily time frame too is near previous resistance level which may act as support again.
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SPX ANALYSIS AFTER CLOSING BELL
