December 5, 2016

 
 
  • Gold 4 hour chart shows below the cloud and 50 period SMA.
  • Price action continues to form new lows Thus favouring Gold bears.
  • For a possible reversal price need to stay above 50 period SMA. For now the trend continues to favour Gold bears.
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  • Nifty hour has fallen below 50 Hour SMA. Price earlier showed weakness as it neared 200 Hour SMA.
  • Its also another dip below 200 SMA. Now if the correction continue Bulls must hope for a double bottom formation around 7900 levels. 
  • Crucial levels for the fall are 8000 and 7916.


December 2, 2016

  • Apple daily chart shows a Golden cross. 
  • Price for now is stuck between 50 and 200 Day SMA.
  • Daily and month chart shows bearish set up. This set up will get activated once and if Daily starts to trade below 200 Day SMA. For the Golden cross to work price must trade above 50 Day SMA.
  • CRUDE OIL Weekly resistance line

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My Favourite Quote

"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