November 20, 2013

FORD chart analysis

  • Ford one hour chart shows an inverted head and shoulders pattern.
  • Price need to stay above 200 Hour SMA for the pattern to work well for bulls of Ford.
  • Bearish if price falls back below the hourly cloud again.

ES Chart update

  • ES one hour testing crucial support line. Price must stay above this line to avoid a bigger fall.
  • One hour chart shows resistance at 50 and 100 Hour SMA. Price must get back above 100 Hour SMA and the hourly cloud to avoid bigger correction.

TATA Steel chart analysis

  • Tata steel weekly chart shows price approaching crucial resistance line and 78.6% Fib level. One has to wait for a weak candle in weekly chart before entering shorts here as the bullish momentum is still intact.
  • Hour chart shows crucial levels for weakness. Trading below 376 and 50 Hour SMA will hint of weakness. 

Bank of America chart update

  • Bank of america daily chart shows price closing above crucial resistance zone at 15.03.
  • Weekly chart shows crucial resistance at 15.28. Price need to sustain above this level on closing basis to extend gains.

EURUSD resistance zone

  • EURUSD Testing a crucial resistance zone. Price need to close above 50 Day SMA to extend the current up move.
  • Failing to close above 50 SMA and breaking the rising support line would resume the fall in this pair.