November 4, 2017

S&P 500 Weekend update

  • One hour shows a broadening formation. For now bearish formations are seen only in smaller time frames. Four hour and Day are shown with strong support levels. 4 Hour cloud is acting as strong support. Last week test of the cloud saved bulls from a bigger correction.
  • Daily chart shown with 20 day SMA. Bears unable to take price below crucial moving average line.

TATA Motors Chart analysis

  • Tata motors weekly charts at crucial price levels. Weekly bulls must take out the falling resistance line and 50 Week SMA for a bigger up move to follow. Bulls safe till price stay above 425 - 435 zone. If this level is not held then the resistance line and 50 SMA acts as resistance.
  • So bulls need a Weekly close above the moving average and resistance line.