June 14, 2012

ES Support and resistance levels

  • ES Four hour chart shows price in a range.
  • Price closing above 200 period SMA may result in a bigger up move.
  • For bears 50 period SMA has given good support as shown in first chart. Closing below this level may result in a bigger fall.
  • For now the marked resistance zone and 23.6% Fib level may act as resistance.

No comments:

Post a Comment