- ES daily chart shows price moving towards previous resistance zone between 2186 - 2191.
- 4 Hour chart has broken below 50 period SMA. A bounce is possible if the above mentioned resistance zone acts as support.
- Swing High will be set for the short term in Daily time frame if 2186 - 2191 level gets broken.
December 1, 2016
- ES 4 hour charts testing crucial support levels.
- If 50 period SMA and the previous resistance line which may act as support does not hold then Bears will start getting active.
- If price falls below this line then 2187 , 2184 and 2180 levels are possible. Bulls just need to protect this line to avoid a correction.
- CRUDE OIL rises from 200 SMA