September 1, 2011

S&P 500 Closed near resistance line

CHART-II
  • Price has broken the blue dotted line shown in the below chart. As of now it is looking good for bears.
  • If price continue to stay below the resistance line it may target or reverse to the 50 period moving average of four hour time frame.
CHART-I
  • SPX Four hour chart Hits the parallel line and is getting ready for a correction
  • If price breaks the blue dotted line we may see a fall in SPX.
  • For bulls price need to break above this pattern.
  • ES - INTRADAY TRIANGLE PATTERN

No comments:

Post a Comment