April 13, 2011

S&P 500 Hour chart analysis

  • ES Hour has to break the resistance line in hour chart for continuing the upward momentum seen today.
  • Crucial Fib level of 61.8% is at 1324. This level has to be crossed on closing basis for things to turn completely in favor of bulls.
  • If Price gets resisted at 38.2% then price will slip towards 1312 level.
  • ES HITS 50 DAY MOVING AVERAGE

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