January 11, 2013

ES Hour chart analysis

  • ES one hour chart with support and resistance lines.
  • Price sustaining above 50 Hour SMA and the cloud may lead to an upper breakout.
  • For now price is testing the range breakout. If price closes back into the range we may see a bigger correction for the false breakout.
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1 comment:

  1. Sandeep KoppulaJanuary 12, 2013 at 12:59 AM

    Hi San,

    Could you please provide an update on BIDU? 116 seems to be resistance trendline and 200 day SMA. Also, around 116 is the 61.8% retracement of the downmove from 135 to 86. Volume over the last 2 days is huge and the price action even more stronger.

    Thanks,
    Sandeep

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