April 5, 2011

ES Support and resistance lines

CHART-II
  • Break of the resistance line discussed below has given good up move for ES.
CHART-I
  • ES Four hour chart is showing a consolidation pattern.
  • Price is near apex of a triangle like pattern. Breakout or breakdown from this pattern can give good direction in the short term.
  • Long shadows of the last candles shows good support at lower levels.

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