August 11, 2011

ES Hour chart analysis

CHART-II (UPDATED)
CHART-I
  • ES Bulls not able to stay above 50 Hour moving average.
  • For a meaningful up move to happen price has to sustain above 50 Hour moving average.
  • Price falling below 1103 will be a shorting opportunity.
  • If 1103 is held an up move towards the channel resistance lines is possible

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