January 11, 2011

S&P 500 Futures Before opening bell

  • ES daily chart with support and resistance lines.
  • Price has taken support on a trend line, Support levels are rising which can form a bullish ascending triangle pattern.
  • If the support line holds we may see an upper breakout above 1276.75.
  • Breaking the support line will favour bears. Bears can get good gains only if they manage to break 1257 and 1255.50.
  • S&P 500 ANALYSIS AFTER CLOSING BELL

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