- Gold continues to contract inside the triangle pattern. Price is near the apex of the pattern.
- Daily cloud will act as strong resistance in case of an upper breakout. For a stronger up move to happen price must start to trade above the cloud.
- Breakdown will see an extension of the earlier down move.
May 21, 2014
- The infosys support levels discussed yesterday has worked well.
- Bearishness of staying below 50 and 200 SMA is still there But for now Infy bulls are able to bounce from key support levels. This bounce may last only till the key averages which were broken recently.
- INFOSYS DEATH CROSS AND SUPPORT ZONE