ES Support line and 50 Hour SMA

CHART-II (UPDATED)

• Price has broken below 50 Hour SMA and the support line shown in hour chart. Daily chart too shows a bearish candle at the resistance line which confirms weakness in higher time frames. We might see some correction next week.

CHART-I

• For bears price has to break below the support line and 50 Hour SMA.
• Price sustaining above 50 Hour SMA will result in another up move.