November 13, 2014

CRUDE Oil testing support levels

  • CRUDE Oil continues to look weak
  • 4 Hour support or the recent low is broken.
  • Weekly support zone is getting tested as shown in second chart.

ES Chart analysis

  • ES One hour continues to get support at 100 Hour SMA.
  • Bigger trend continues to be safe as seen in four hour time frame.
  • Daily chart shows price staying above the shaded levels. These levels acted as resistance before and now are crucial support levels. Bigger weakness for ES only if these levels are broken

TATA Steel chart analysis

  • For Tata Steel Bulls the crucial level to stay above is 430 - 435 as shown in first chart. This level acted as previous resistance Now a support zone.
  • Weekly chart shows a range between 23.6% and 38.2%.
  • Daily resistance is at 50 Day SMA.