January 29, 2016

  • ES 4 hour chart shows an ascending triangle breakout. pattern will remain strong above 1900 levels.
  • ES weekly is bouncing from the base of semi circle. Price likely to move towards the outer edge of semi circle.

  • Previous support line shown in daily chart is acting as resistance. Crude bulls need to move and sustain above this line for a bigger bounce to happen.


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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