Price took a dip from 100 Period SMA and its testing that resistance level again. Four hour candle need to close above this level for the up move to continue.
CHART-I
ES Four hour is getting resisted at 100 Period SMA.
Cloud of this time frame may also act as stiff resistance.
200 Hour SMA and the Cloud in four hour chart needs to be taken out by bulls of crude oil for the up trend to resume and to move above 108 levels again.
Price getting resisted at these levels would result in a correction towards 104.35 levels and lower.