- ES Charts looking bearish as price has broken below the channel support line.
- ES Four hour chart is also testing the 200 period SMA. Sustaining below this level will strengthen bears further.
- One hour chart is unable to trade above the Ichimoku cloud. Only a cloud break at this time frame can give some hope for bulls of ES.
- SPX ANALYSIS AFTER CLOSING BELL
- SPX Managed to save 50 Day SMA on closing basis.
- Hour chart shows price getting support at a crucial trend line. If price sustains above 1343 - 1347 level it could move towards 1360 - 1365 level before falling down.
- For bears breaking the cloud of four hour could give 1310 and lower levels.
