July 12, 2011

ES Resistance level for the Bounce

  • ES briefly fell below 1300 But now back above it.
  • For the current bounce 1330 level may act as resistance.
  • Fibonacci levels in hour chart too shows resistance near 1332 level.
  • So if price goes back to 1330 - 1333 band it will be tough to cross at least on the first attempt.
  • S&P 500 ANALYSIS AFTER CLOSING BELL

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