May 29, 2013

GOOGLE Support and Resistance levels

  • Google four hour chart shows support at 50 period SMA and 38.2% Fib level.
  • One hour chart shows Hourly cloud as resistance. Strength only on price moving back above hourly cloud.

ES Chart analysis

  • ES Trading below 4 Hour Ichimoku cloud.
  • Price testing 100 Period SMA.
  • Bears of ES will be stronger once price starts to trade below 100 period SMA and 1629 - 1633 support zone.

TATA STEEL Chart analysis

  • Tata Steel nearing range top in daily chart.
  • Price also near 23.6% Fib level near 329 levels and Testing 5 Week High EMA at the current levels.
  • Price need to to a convincing close above 330 levels for a bigger up move to follow. Any weakness in daily chart could lead to a sell towards range bottom.