April 8, 2011

S&P 500 Futures before opening bell

  • ES One hour chart is approaching resistance area.
  • 1336.25 should be taken out by bulls on closing basis for bullishness to sustain. Price is likely to get resisted here.
  • Yesterday's Dip was bought exactly at the 200 hour moving average and Bulls steadily started moving up and has reached the top of the range now.
  • Since price is near support or resistance line we will get a good move soon.
  • Dow is near an important resistance level: CLICK HERE TO SEE THE CHART

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