July 14, 2011

S&P 500 Futures Consolidation pattern

CHART-II
  • ES has broken down from the consolidation pattern.
  • Price staying below 1302 will target 1295. Below 1295 things will become bad for bulls.
CHART-I
  • ES Hour chart is in a consolidation pattern.
  • Price is moving towards the apex of that consolidation pattern.
  • Any breakout should takeout levels like 1328 on the upside or 1302 and 1295 on the downside.
  • GOLD - RANGE BREAKOUT

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