October 12, 2011

ES Trend update

  • ES is trending up in hourly time frame
  • Price staying above 50 Hour SMA will favor bulls.
  • Ichimoku cloud for this time frame too is favoring bulls as of now.
  • For bears MACD and Price is showing some negative divergence in hour chart. This will be effective only if price starts to trade below 50 Hour SMA.

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