November 29, 2010

S&P 500 Futures Triangle pattern

CHART-II
  • ES Violated the triangle but took support between 1170 and 1174 for now.
  • Now for Bulls price should trade above 1180. It it does not sustain above 1180 we may see a retest of today's low.
  • Larger correction will be possible only if 1174 and 1170 gets broken.
CHART-I
  • ES Triangle pattern in four hour chart
  • Price is trading near the support line of the triangle
  • This may act as support zone.
  • Price may break the triangle support line too. Break of the Trend line should take out 1174 and 1170 for a bigger correction to take place.
  • DOW JONES WEEKEND UPDATE

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