February 22, 2017

TESLA Chart update

  • TESLA Month nearing resistance zone.
  • Previous weekly candle is a potential bearish one with its long upper shadow. But if today's week closes higher then bearishness of the previous candle is negated.
  • Levels to watch bears are 274 and 264 levels. For bulls need to stay above 287 and 291 levels to extend the trend.

ES Chart analysis after closing bell

  • ES Daily shown with a possible rising wedge pattern. Price likely to hit the resistance line around 2370 plus levels approximately.
  • Rising wedge mostly results in a breakdown in favour of bears.
  • One hour cloud continues to offer strong support for bulls.  Weakness in hourly only on closing below the cloud.