June 1, 2011

ES Near Important SAR Level

  • ES Daily line chart shows price near 1341 - 1342 level which is an important Support and Resistance level. If bulls manage to move above and close higher from this level they can extend gains up to 1375 level.
  • If bears manage to pull down and close below this level price may start to correct again.
  • Price in hour chart is moving up in a channel. For bears they should try to break the channel, Price staying in the channel will favor bulls and small corrections within the channel can be used for achieving newer high's.

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