April 4, 2012

S&P 500 Futures Four hour chart analysis

  • ES may give a bounce from the support line shown in 3rd chart.
  • Price breaking the cloud and 100 Period SMA in four hour time frame is negative But charts look oversold right now and it may result in a bounce towards 23.6% fib level again.
  • Price breaking the support line will strengthen bears further and it may target 38.2% fib level.

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