October 13, 2011

ES Hour chart analysis

  • ES Hour is testing 50 Hour moving average and the cloud of this time frame.
  • Price and MACD is diverging for quite sometime without major effects.
  • Now price if falls below the cloud and 50 Hour moving average we may see the negative divergence take effect.
  • Price staying above the cloud will continue to favor bulls of ES.
  • S&P 500 RESISTANCE LEVELS

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