August 8, 2011
- ES 15 Minutes is showing a descending Triangle pattern.
- Price staying below 1161.50 will favor bears to extend the down move.
- Breakout of the upper line should also stay above 1189 for a meaning full up move to happen. Then there is the cloud in hour time frame which is the bigger resistance cross.
- Price has been staying below the hour cloud for a long time now without testing it.
All the contents of niftychartsandpatterns are for educational purposes only and are not Investment Advice or recommendations offered to any person(s) with respect to the purchase or sale of the stocks / futures. Niftychartsandpatterns shall not be held responsible for the actions of individuals, parties, or corporations taken in response to the ideas, thoughts, concepts or information presented in this blog. Hence all the visitors are requested to apply their prudence and consult their financial or investment adviser before acting on any of the Ideas in this blog.