January 14, 2011

ES Hour breakout

  • ES Hour chart has given a breakout from a broadening formation.
  • A right angled descending broadening pattern.
  • According to the rules of the pattern we may get about 10 points in ES from the area of breakout for this pattern.
  • But price has to close and sustain above 1284.25. Dipping below this level will be negative.
  • BEARISH ENGULFING IN SILVER

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