May 26, 2014

ES Chart update

  • Crucial short term support for ES at 30 Minutes cloud.
  • 4 Hour chart shows price breaking above recent resistance zone. Weakness for the day only if price falls back below this zone.

TATA Steel chart update

  • Price moving in favor of the bullish pattern in Tata Steel.
  • Next resistance in daily chart is at 485
  • Weekly resistance is between 500 and 503. 500 Being  a crucial round number its important for bulls to close above this resistance zone to increase the upward momentum.

FORD Motor Weekend update

  • Ford Motor weekly chart seen here in a Triangle contraction pattern. 
  • Weekly will favor bulls as long as price stays above 20 Week SMA. Weekly chart will gain momentum on closing above 16.27 levels which is also the 50 Week SMA.
  • Weakness on price closing below 20 Week SMA.