January 20, 2011

Bearish Engulfing in S&P 500 Futures

BEARISH ENGULFING
TREND LINE SUPPORT
  • ES has formed a bearish engulfing pattern in its daily chart.
  • Now Bears should try to break the trend line drawn in daily chart for extending their gains.
  • Getting support on the trend line will give hope for the bulls to extend the primary trend.

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