August 18, 2016

ES Chart analysis

  • Price managed to get back above the crucial moving average line 200 Hour SMA. 
  • One hour chart shows price pausing at Hourly cloud for now. Although price is stopping here the Quickness of the reversal is a concern for ES Bears. Look at the candle in 4 Hour time frame its almost a big engulfing pattern.
  • 2183 - 84 are possible resistance levels. Above this new high's. 

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