CHART-II
- We had a breakdown from H&S pattern. But bears are not able to gain momentum.
- If price does not trade below 1248 This will end up as another H&S pattern that's failed.
CHART-I
- ES Hour chart with head and shoulders pattern.
- Since the failure rate of this pattern is high these days Neck line can be used as a support line too.
- Price may go down only if it sustains below 1251.50 for some time.
- Main support below 1251.50 is at 1245.50
- S&P 500 ANALYSIS AFTER CLOSING BELL.
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