March 17, 2018

ES Chart analysis after closing bell

  • Price moving in a narrow range as shown in 30 Minutes time frame.
  • 4 Hour chart shows the small range within a Larger Ascending channel. If the support line of the channel is held then price is likely to remain sideways to bullish.
  • Bears tried and failed 3 times to close below 50 Day SMA. If bears manage to close below this line then the channel support line will be tested.
  • Descending triangle and Bearish engulfing Descending Triangle and Bearish Engulfing

  • Amazon Hourly Descending triangle has resolved in favour of bears.
  • Now day must stay below 1578 for bigger correction to follow.
  • If day closes below 1578 it will add more strength for the Bearish engulfing in Daily time frame.
  • AMAZON Intraday update

March 16, 2018

ES Chart analysis before opening bell

  • ES 4 Hour charts with immediate support and resistance levels.