January 22, 2016

ES support and resistance levels

  • Last chart shows bulls trying to stay above daily support zone
  • One hour chart with 200 Hour SMA Shows bulls trying to stay above the crucial moving average line.
  • 2nd chart shows immediate support and resistance levels.

ES Analysis after closing bell

  • ES Daily chart shows price moving around the crucial support resistance zone of 1860 - 1870. Bulls need price to sustain above this zone for a bigger bounce to happen.
  • Hourly chart shows a possible bullish Ascending triangle pattern But price need to break and sustain above 200 Hour SMA for this pattern to work well. Unable to close above 200 Hour SMA will strengthen bears further.