November 13, 2014

  • CRUDE Oil continues to look weak
  • 4 Hour support or the recent low is broken.
  • Weekly support zone is getting tested as shown in second chart.

  • ES One hour continues to get support at 100 Hour SMA.
  • Bigger trend continues to be safe as seen in four hour time frame.
  • Daily chart shows price staying above the shaded levels. These levels acted as resistance before and now are crucial support levels. Bigger weakness for ES only if these levels are broken

  • For Tata Steel Bulls the crucial level to stay above is 430 - 435 as shown in first chart. This level acted as previous resistance Now a support zone.
  • Weekly chart shows a range between 23.6% and 38.2%.
  • Daily resistance is at 50 Day SMA.


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"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