October 31, 2011

ES Trend update

  • ES is giving some relief for bears as of now. But the trend lines and the 50 Period SMA of four hour chart may give support for taking it up again.
  • For bears the close below 50 Period SMA shown in the second chart should be convincing for a bigger fall to happen. Dip towards this level has taken support 3 times in the past. We have to see how price reacts from this level when it gets there.

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