Hello everyone. I need to be back on December, but due to
some personal reason I am back. So I taught to post my review for this week
As I have told you I was likely to see a “Double Top”, I went
wrong L
. But as I had told you that market will
once again slide down (Taking a risk). I was right, once again. I have also
predicted a negative crossover in MACD. Hurry I was right. Last week I had
given you 2 possibilities. Fortunately I
was right and plan B never worked for me.
As I have told you last week that, it will be too early to
spot future supports. Know I have started to think of supports. Getting into
market once again, the recent breakout of support had made market to move once again
into that rectangle. Know the real sentiment of market will work. Currently market
is having a support at 17062. As we have seen a poor MACD signal I am confident
that market will easily break this support. Testing lower supports.
Actually I don’t have my handy book “as my friends are
having there exam this month end, I have given my books to them. Even though
there syllabus carry a negligible part of Technical Analysis my friends were
really curious to know how Technical Analysis work etc..etc..”. Being a Marketing student last week I took a class covering 2 Modules of Technical Analysis
for my Finance buddies. My friends were satisfied as I gave more than what they
need to. Most of my friends rise there eyebrow when they hear Technical
Analysis. Let me be clear Technical Analysis is the easiest Chapter. The only
thing is you need a right person and a right material/ resource.
As I don’t have my book I am unarmed. I have never worked on
fib levels and this is the first time I am using it. I hope my analysis go
right as it use to…. I have given you the different support levels by Fib retracement
level. Hope market follow Fib lines… I have pointed my support which I feel may
turn into a good supports.
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