CHART-II
- ES could not move above the hourly cloud. Looks like the reversal attempt is about to fail.
CHART-I
- ES Four hour chart shows price testing 20 Period moving average. Bulls need price to close above this level for turning the trend.
- One hour chart shows price pausing at the Hourly cloud. Bulls need a cloud break to turn the trend in their favor. Failing to close above the cloud will be negative for bulls.
- This bounce was started from the Golden ratio in daily time frame So that level has to be held for a short term bottom to be in place.
- ES FIBONACCI LEVELS UPDATED
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