September 23, 2011

S&P 500 Futures Hour chart analysis

  • ES Hour is moving down in a channel
  • Cloud is shown in 30 Minutes time frame. Cloud is acting as resistance. Price breaking and sustaining above it may give good up move.
  • 30 Minutes is also showing divergence with MACD yet to confirm by price.
  • For bulls price should break above the channel for a sustained up move to happen.

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