October 14, 2011

ES Daily chart Analysis

  • ES Daily is about to hit its 100 SMA
  • Price is trying to move above the cloud.
  • so for bulls price has to stay above the cloud and 100 SMA. Closing the daily candle above the cloud and 100 SMA will lead to a sustained up move.
  • For bears price has to fall back into the cloud and break below it.

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