January 27, 2015

Reliance power weekly resistance line

  • Reliance power has moved above the falling resistance line shown  in weekly chart.
  • Daily chart shows a range breakout targeting 68 levels.
  • 68 is former support may act as resistance now. For bigger up moves price must move above the daily cloud 

GOLD Trend update

  • Gold Testing weekly cloud. Price is pausing at the cloud and 100 Week SMA
  • For now bulls are staying above 200 Day SMA. Some weakness is seen in  200 SMA. Bigger worry for bulls only if price falls back below 200 SMA.