- ES Falls below the 100 period SMA of four hour time frame which has held so far on closing basis. Now a close below this level may give an extended fall.
- For now the 23.6% Fib level is trying to prevent a bigger fall from happening. Sustaining below this level could give a fall towards 38.2% Fib level.
- Facebook four hour time frame nearing resistance areas.
- Price near falling resistance line from 32 levels.
- Fib levels shows price near 50% Fib level and 50 period SMA.
-->
- ES Falling from the resistance line discussed in yesterday's post. Resistance line in 4 Hour chart has worked well so far.
- Now 4 Hour chart also shows support in a dotted up trend line. Below this line price may test 100 period SMA.
- IWM CHART ANALYSIS
-->
- IWM Violating crucial rising support line.
- Price has violated 20 Day SMA and has next support at 50 Day SMA.
- Fib levels shows price closing at 38.2% Fib level. Breaking this level may lead to 50 SMA and 50% Fib level
- SILVER Daily chart shows price continues to create new lows.
- Weekly chart shows approaching support zone between 26.02 - 26.75.
- Monthly chart shows the same support zone shown in weekly chart and the Golden ratio for 8 - 49 levels which is also a support level which may get tested if there is a big fall.
- ES SUPPORT AND RESISTANCE LEVELS
-->
