- ES Daily chart shows price moving towards 100 Day SMA.
- 2nd chart also shows a possible support in Lower Bollinger band.
- Bigger correction only if these levels are not held. Close below 100 SMA can be very negative for bulls as it may take price towards 200 SMA again.
- Another point to highlight is the strength of PIN BAR at crucial levels. This one at upper bollinger band has given good results.
March 19, 2018
- Nifty falls below 200 SMA.
- Bears need a daily close below this line to strengthen their position. If an intraday bounce takes price back above 200 SMA then that will keep the hope of a bounce for bulls alive.
- 4 Hour chart shows a possible falling support line. If held an intraday bounce is possible.