December 12, 2013
- ES Sustaining below 200 period SMA will continue to favor bears.
- Bulls trying to hold above the previous resistance zone which has acted as support so far. This is also the 50% Fib level as shown in chart 3. This area must be broken by bears on closing basis for extending gains.
- DOW Jones analysis after closing bell
- Dow Jones Daily chart shows bearish reversal candles working well for bears. Price is not testing crucial support levels
- Bears need price to close back into the channel shown in second chart for a bigger downfall to happen.
- Last chart shows price testing 23.6% Fib level and lower bollinger band. Price need to close below these levels for bears to extend gains.