My blog Analyses the trend and patterns of stocks, Futures, Commodities and Forex Markets
November 19, 2013
ES Channel and Negative Divergence
ES 30 Minutes chart shows the steady up move of price in a channel. 30 Minutes cloud is acting as support for the up move. One hour chart is showing negative divergence with price and MACD. This setup need price to trade below 50 Hour SMA to work well.