January 5, 2015

  • ES Four hour is staying below the crucial 100 Period SMA
  • One hour too is trending below hourly cloud.
  • If 50% Fib level does not hold a test of golden ratio is likely soon.

  • TATA Motors weekly chart shows 20 Week SMA as immediate resistance level.
  • Daily chart is testing golden ratio and cloud. Moving above these levels may target the range top near 550 levels.
  • Weakness if price is unable to cross the golden ratio.


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My Favourite Quote

"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