July 9, 2013

ES Chart analysis

  • ES nearing its resistance level in daily chart.
  • Sustaining above 50 Day SMA should lead to a breakout above the resistance level shown in first chart.
  • Fib levels shows price between Golden ratio and 78.6% Fib level this area is a possible reversal level so Bulls must move above 78.6% Fib level sooner to avoid a correction.

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