- TATA MOTORS Trying to breakout from a contracting triangle has stiff resistance in 50 Day SMA and Golden ratio. Crossing these resistance levels may result in a bigger up move.
- Getting resisted near golden ratio may keep price in a range between 23.6% and Golden ratio.
- CRUDE OIL CHART UPDATE
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WEEKLY
DAILY
- Weekly candle has violated the range. Daily chart also shows the same Now bears must hope that price come back into the range and close the week in their favor.
- Last chart the daily time frame shows price trying to get back into the bullish part of the channel. Price sustaining here is bad news for bears.
- CRUDE OIL CHART UPDATE
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- One hour chart shown with the small GAP and 50 Hour SMA Which may act as resistance for Apple.
- 2nd chart shows the neckline of head and shoulders which may act as immediate resistance level.
- Trading above these resistance levels may give 445 levels.
- Unable to trade above the neck line may lead to recent lows again.
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30 MINUTES CHART
4 HOUR CHART
- SPY Ascending triangle breakout. Price gaped out of the pattern. If price does not test the gap before close we may have another runaway GAP. Second chart shows two other runaway gap's in chart which gave good up moves till now.
- Bears need price to close the gap and close the day back into the ascending triangle.
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- APPLE Monthly chart shows price below Middle Bollinger band If price continue to sustain below the resistance line stock may move towards Monthly Lower Bollinger Band.
- Weekly chart shows the crucial channel which can invalidate the above view if price gets out of it.
- Weekly price and MACD continues to show positive divergence without price confirmation of an up move instead price continues to give new lows.
- S&P 500 ANALYSIS AFTER CLOSING BELL
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- Crude oil testing daily trend line from 77 levels.
- Price also is bouncing from Golden ratio.
- Moving above 50 week SMA shown in last chart may give a big up move for crude oil. Unable to close the week above 50 Week SMA may result in a bigger fall towards 84 levels in the coming weeks.
- S&P 500 ANALYSIS AFTER CLOSING BELL
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- SPX 30 Minutes chart shows price closing at the neck line of Inverted head and shoulders pattern. Chart also shows resistance at 1530 level.
- Daily chart shows a possible broadening pattern. Bears need price to fall below 50 Day SMA which may give good falls from this pattern.
- Weekly chart shows no sell signal yet. Indicator staying above 80% line will continue to favor bulls of spx.
