May 28, 2014
- One hour chart of SBI is seeking support at Golden ratio and 50 Hour SMA.
- SBI Bears need a close below these levels to extend the weakness in weekly chart. Weekly chart is moving toward a Dark Cloud cover pattern which can be confirmed only if the current weekly candle engulfs 75% length of the previous bullish candle.
- If price takes support at 50 Hour SMA an up move is possible and thus avoiding a bearish pattern in weekly chart.
- Reliance Industries daily chart is moving in a range between 1068 and 1145.
- Price if takes support at Low EMA and Range support zone could start moving up again.
- Weakness on closing day below 1068.
- Weekly candlestick so far shows bearishness, Price must close higher to avoid a bearish engulfing pattern.
- GOLD TRIANGLE BREAKDOWN