- One hour shows a broadening formation. For now bearish formations are seen only in smaller time frames. Four hour and Day are shown with strong support levels. 4 Hour cloud is acting as strong support. Last week test of the cloud saved bulls from a bigger correction.
- Daily chart shown with 20 day SMA. Bears unable to take price below crucial moving average line.
My blog Analyses the trend and patterns of stocks, Futures, Commodities and Forex Markets
November 4, 2017
S&P 500 Weekend update
TATA Motors Chart analysis
- Tata motors weekly charts at crucial price levels. Weekly bulls must take out the falling resistance line and 50 Week SMA for a bigger up move to follow. Bulls safe till price stay above 425 - 435 zone. If this level is not held then the resistance line and 50 SMA acts as resistance.
- So bulls need a Weekly close above the moving average and resistance line.
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