- Google weekly chart shows price moving towards its long term resistance line.
- Hour charts shows price trending up above 20 Hour SMA and the up trend line. Possible weakness only if price starts to trade below 20 Hour SMA and the support line.
- ES CHART UPDATE
August 17, 2012
- First chart is ES Daily time frame which is near resistance levels.
- Weekly chart shows price near upper bollinger band
- Last chart shows price moving towards major resistance line which might stop bulls from moving up further. This chart will be effective only on closing basis so intra week violation of the resistance line is possible.
- CISCO Weekly chart moving towards resistance line.
- 2nd chart shows weekly breakout attempts failing at 200 Week SMA. Last 3 attempts to stay above this line has failed we might see the fourth attempt during this up move.
- The Island reversal pattern in daily chart may help bulls to extend the up move till the resistance levels or above it.
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