June 19, 2012

S&P 500 Futures chart update


  • ES Four hour chart nearing the resistance line 
  • Price sustaining above 200 and 50 period SMA will favor bulls. 
  • ES daily chart shows crucial resistance in Golden ratio and previous support levels which may act as resistance. For a bigger breakout price must breakout and sustain above this level. Getting resisted here may result in good correction.
  • SPX ANALYSIS AFTER CLOSE


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