August 20, 2013

  • Ford trying to stay above the rising up trend line.
  • Price need to close above the cloud and 50 Day SMA to confirm strength.

  • ES one hour chart shows resistance at 50 Hour SMA and Hourly cloud.
  • Daily chart shows price below crucial support zone and 50 Day SMA.
  • For ES bulls price has to get back above 50 Day SMA for a stronger pullback to happen.

  • Weekly up trend line and 20 Week SMA at 1640 will act as immediate support levels. Breaking below them price may fall towards 100 Day SMA at 1632
  • Resistance is seen at 1658 which is the broken 50 day SMA

  • ES Hour chart shows price getting resisted and is moving away from 50 Hour SMA. 
  • 30 Minutes chart shows price continues to break below support levels.
  • Daily chart shows price violating 38.2% Fib level. 
  • Strength in hour chart only if price able to get back above 50 Hour sma.

  • Price testing 50 Hour SMA.
  • Hourly up trend line and the One hour cloud shows the up trend is intact. Weakness in hour chart on trading below these levels.


All the contents of niftychartsandpatterns are for educational purposes only and are not Investment Advice or recommendations offered to any person(s) with respect to the purchase or sale of the stocks / futures. Niftychartsandpatterns shall not be held responsible for the actions of individuals, parties, or corporations taken in response to the ideas, thoughts, concepts or information presented in this blog. Hence all the visitors are requested to apply their prudence and consult their financial or investment adviser before acting on any of the Ideas in this blog.


Blog Archive

Powered by Blogger.

My Favourite Quote

"All through time, people have basically acted and reacted the same way in the market as a result of: greed, fear, ignorance, and hope. That is why the numerical formations and patterns recur on a constant basis."
—Jesse Livermore