November 14, 2014

S&P 500 Futures 4 Hour chart analysis

  • ES 4 Hour with MACD Shows negative divergence. Price yet to confirm weakness for this Divergence.
  • Bears need price to close below 50 period SMA.
  • For now price is moving in a range.

TATA Steel update

  • TATA Steel trying to stay above 20 day sma.
  • Crucial resistance at 50 day sma.
  • Weak on closing below 460 and 20 SMA Which may test the support resistance zone shown in the weekly chart.