- ES did move to 1200 But did not stop there. Instead it broke and made a low of 1193.
CHART-II
- As discussed below the breakof upper boundary found resistance around 1213
- ES will move towards 1200 now and may find support near that level.
CHART-I
- ES has a descending triangle pattern that can give good direction.
- Descending Triangles usually gives a breakdown of the support line.
- But ES is showing good support at 1200 so this may again act as a support area.
- If price breaks the resistance line of the triangle pattern than price should sustain above 1213 for making good up moves
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