Stock Market Chart Analysis

April 6, 2018

First chart shows a possible bullish base building, But price need to break above 64.14 levels which was the previous support zone. This broken support zone may turn as resistance now.
Price is in a falling channel which is near the support line of a bigger channel. If the support line holds an upper breakout is possible.
TESLA Weekly charts

Resistance zone discussed in one hour did hold for bears only for now.
Daily candle too is showing some weakness But the Twin bullish shadows at 200 SMA is likely to favour bulls in the short term.
TESLA Weekly and Daily charts

Daily chart shows strong reaction by crude bulls from the Bullish channel.
But the head and shoulders pattern in 4 hour too looks good. Although the pattern has already hit its target Price may slide further if it stays below 64.15. If CL bulls take price above 64.15 that will negate all effects of bearish pattern in this time frame.
Daily continues to look good for crude bulls.

ES Weekly chart shows Bulls trying to hold on to 50 Week SMA. Previous visits of price to this moving average resulted in Big reaction in favour of bulls. Right now bulls are trying to form a similar bullish candle But bulls need to do more to confirm a pause in correction.
Daily chart shows another candle with long shadow. If today's candle holds above 200 SMA bulls may be able to do a bounce.
On the contrary a close back below 200 SMA may strengthen bears again.

4 Hour charts are not looking good for bulls.
Weekly time frame is at a possible reversal zone. Price near 50 Week SMA. As long as last week's low are not tested bulls will keep the hope of a reversal alive.
On the contrary more selling if 9951 gets taken out.