February 18, 2018

ES Weekend update

  • ES Week closed just below the High of previous week candle. That is the resistance level for next week around 2760.
  • Daily bounce continues from 200 SMA, Price managed to close above 50 Day SMA. But the daily candle of Friday's looks a Doji one which give some hope for bears. If Monday close below 50 SMA Then correction may resume.
  • Hour is in a nice bullish channel. If channel lines holds bounce will extend.
  • My Preferred view will be to look for a close below 50 SMA to go short. 
  • ES Hourly bullish "W" Pattern


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