February 18, 2014

  • Above shown bullishness can only be confirmed with the daily candle giving a close near the High of the Day.
  • A Bullish "W" and a breakout above 200 Day is waiting to be confirmed with a bullish close.
  • One hour chart too shows a range breakout. 
  • Daily bullish confirmation will lead to 105 and 108 levels in the short term.
  • ES Chart analysis

  • ES one hour chart is finding support at 50 Hour SMA.
  • Four hour chart shows the bullish ladder. Daily chart is nearing supply zone, if the bullish structure in four hour time frame remains intact a breakout in daily chart is possible.

  • Daily chart looks like a double bottom at 200 day sma.
  • If price starts to move up the GAP and the cloud may act as stiff resistance levels.
  • immediate resistance levels are shown in chart 2.
  • Apple bulls managed to fill the GAP in daily time frame completely.
  • Price is now testing crucial resistance levels like 50 Day SMA and the daily ichimoku cloud. 
  • Apple bears need to see weakness at daily cloud for a correction to follow.


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"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