July 13, 2012

ES Chart analysis

  • ES One hour moving into resistance levels.
  • Hourly cloud and resistance line should favor bears for a pullback.
  • Four hour chart shows price getting support near 200 period SMA. If the resistance line of the channel is unbreakable we should see a bigger fall below 200 period SMA.
  • Bulls need a channel breakout for a long trade towards 1355 levels again.

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