It is the IT Sector's turn to Reverse !

Weekly Chart 

 The above weekly chart shows how the  "Outside Day" reversal pattern - shown in red elipse - on the weekly charts of the IT Sector Index has warned of a reversal with regularity.Occuring on weekly charts makes the signal stronger.

Outside days are days where the current candle is both higher and lower than that of the previous candle. 

The pattern has occured once again alerting of an impending reversal !!

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Lakshmi Ramachandran
www.vipreetsafetrading.com

An Evening Star - A Powerful Bearish Reversal Signal

Daily Chart

 An evening star pattern formed on Dr.Reddy today.The gap up made on Friday the 28th February , the long upper shadow which makes the candle a bearish shooting star which formed on huge volumes and the bearish candle which closed the gap today makes the reversal signal stronger.     


This coming after a spectacular run up increases the probability of a reversal.

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Lakshmi Ramachandran
www.vipreetsafetrading.com

Reversal Signals in S&P500 ?

Monthly Chart 

The S&P 500 has had a dream run , which probably remains a dream for most participant. The monthly charts have formed an Outside day pattern which is a reversal signal. 

 Outside days are days where the current candle is both higher and lower than that of the previous candle. Outside days mark greater volatility in  price for that day.In the case of S&P500the current candle engulfs previous three months range indicating the possibility of reversing is higher.

 Watch out if the low of the candle at 1738 breaks !

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Lakshmi Ramachandran
www.vipreetsafetrading.com

Gold Getting Strong !

 

Daily Chart 

 Gold has gotten strong with , 

A breakout from the downtrending channel, successful test of it's resistance line and breaking out of the high made on the breakout at 1280.

A breakout from an inverted head and shoulder pattern giving a mouthwatering target given to subscribers well in time to take advantage of the breakout.

The 20/40 Ema have given a buy.

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Happy Trading !!
Lakshmi Ramachandran
www.vipreetsafetrading.com

Gold Bottoming Out ?

Weekly Chart 

There is a good chance that Gold may have formed a bottom at 1179. Firstly, the 1179 low made six months ago has been held. Secondly, the up leg from 1179 to 1434 has been retraced in double the time indicating drying up of sellers.

Cross above 1280 which is where the 20 Ema resides along with the recent reaction high, would put the short term trend up.

Resistance would come in at 61.8% fibo level and 40 Ema at 1330, minor swing high at 1360 and finally at 1434.Crossing 1434 would confirm a double bottom at 1179 which could catapult Gold to 1700.

All this provided 1179 holds !

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Happy Trading !!

Lakshmi Ramachandran
www.vipreetsafetrading.com
vipreetsafetrading@gmail.com