29 Mar Friday

We have a long holiday weekend until 31 Mar Sunday. Just take some rest and enjoy our day. Before we talk about technical and price actions, we need to consider a couple of things. One is at what price will it open on Monday and arising tension in world as N. Korean rockets are on Stand-by for strike on U.S mainland and Pacific Bases quotes CNN. When market panics and price becomes so volatile that it really doesn't know what it is doing by itself, then all the technicals are void. Near term supports, resistances, channels they don't seem to work in the meaning to contain/support prices.

But still if it remains as normal as it has been this week, it seems having really hard time breaking the 38725 level resistance as it has been tested for last four days and not successful. If we look at the image, we can see, it is at an important support level in two ways ; one, it is at the uptrend support line since 21 Feb 2013 and second, at the 150 SMA. If the price can not penetrate the above mentioned resistance to move ahead and breaks the mentioned support, then we may see further slide down.

All in all we need to wait and see how it will be on Monday.

Be safe, enjoy life, be grateful for the sunny day, air we breathe and experience the happiness you can feel when you bring a smile to some ones face, I mean true smile - from heart, there are number of types of smiles, I can go on with this all day, but you may get bored so I stop it here. Rest is mortal, of no value in the meaning they may make your life easier, may make you feel happy for some time, but they are material, just material and nothing else.

:)