Crude oil 4 hour chart shows price trying to stay above crucial support resistance zone.
Daily chart shows price nearing 23.6% Fib level and 50 Day SMA. Only a daily close above these levels will help Crude oil bulls to extend this up move. Unable to close above 50 Day SMA may resume the fall in crude oil.
Price resistance level at 17.2, Daily upper bollinger band and 50 Day SMA too is acting as resistance levels.
Immediate support at 20 Day SMA which is at 19.96 level.
Daily chart shows a contraction pattern which is forming after a down move so can be considered as a bearish continuation pattern on the contrary bulls need a close above 50 Day SMA and 17.2 level on closing basis for an up move to happen.
ES 4 Hour chart shows price violating crucial support levels.
chart 2 and 3 shows price testing 23.6% Fib level and nearing 100 Period SMA. Price must break below these two levels on closing basis for a bigger fall to happen.
Tata Motors daily chart shows a broadening pattern.
Weekly chart is trading near resistance line. Price yet to confirm any weakness and Weekly indicators yet to show a sell signal. So one has to wait to confirm weakness before going short.
stock trading above 405 - 410 zone on closing basis may negate the above bearish view.
