December 22, 2011

S&P 500 Futures Chart Analysis

  • ES Daily chart shows price testing 200 SMA. Bulls have failed at this level many times in the recent past. So only if price sustains above the dotted line we may get a real breakout.
  • 200 Period SMA of Four hour time frame may act as an important support level which bears need to break in order to trigger a bigger correction.

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