Descending Triangle of ES

CHART-II

• Descending triangle has broken the support line. So far its looking good for bears. This may go down till 100 Hour SMA. More pain for bulls if that level does not hold

CHART-I

• Break of support line may give good short trade for bears.
• Breaking above the resistance line will negate the bearishness of this pattern.
• I hope for bears it works well like the previous Descending triangle shown in this chart.