December 15, 2017

ES Charts before opening bell

  • Bounce from 200 SMA is helping bulls for now. But Bulls need to get back above hourly cloud to stop a bearish reversal from taking place. Bears need to keep price below hourly cloud to resume correction. Bigger fall only on hour closing below 200 SMA.
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ES Chart Analysis after closing bell

  • Hour cloud shows price violating the cloud and falling back to its 200 Hour SMA. More weakness for ES Bulls on price closing below 200 Hour SMA.
  • Daily candle too shows weakness for ES Bulls.
  • GOLD Hour chart analysis
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December 14, 2017

GOLD Chart analysis

  • GOLD Hour trying to turn up 
  • Gold bulls need to stay above the hourly cloud to extend the hourly reversal.
  • Price likely to move towards 1266 - 1270 zone as shown in daily chart.