January 5, 2015

S&P 500 Futures chart update

  • ES Four hour is staying below the crucial 100 Period SMA
  • One hour too is trending below hourly cloud.
  • If 50% Fib level does not hold a test of golden ratio is likely soon.

TATA Motors chart analysis

  • TATA Motors weekly chart shows 20 Week SMA as immediate resistance level.
  • Daily chart is testing golden ratio and cloud. Moving above these levels may target the range top near 550 levels.
  • Weakness if price is unable to cross the golden ratio.