August 18, 2011

S&P 500 Futures moving towards the trend line

  • ES having given a false breakout yesterday has broken the low of the range.
  • Now price is moving towards the supporting trend line shown in hour chart.
  • Price has clearly broken the 50 Hour moving average.
  • Now if price breaks the trend line bears can extend gains.
  • For bulls they shall try to stay above 50 Hour moving average.
  • CRUDE OIL NEGATIVE DIVERGENCE
  • S&P 500 ANALYSIS AFTER CLOSING BELL

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