February 17, 2016

 
  • ES Weekly chart shows price moving up from support zone to resistance level near 1945. Bulls must cross this zone for a bigger bounce towards the WEEKLY ARC

 
 
  • If the down trend in daily chart extend beyond 13800 price could fall towards the levels shown in Month chart.
  • Previous resistance levels near 13300 and Golden ratio at 13100 levels may act as support.
  • Immediate support and resistance levels as shown in daily chart

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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