March 4, 2011

ES Daily Chart Analysis

  • First chart shows ES daily chart with 20 day moving average. 
  • Price is above 20 dma for now, But if it falls below 20 dma we will get another correction.
  • Next chart shows price with 50 dma. The recent fall was stopped at the 50 dma. So a major correction can be expected only if 50 dma gets tested again.
  • 1296 has become an important support for now.

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