ES Hour hits channel resistance

CHART-II

• Price gave a correction as discussed in the below chart.
• Now it is near 50 Hour moving average and the channel support line. So an up move is possible from this level.
• Bears will become stronger if they manage to break the channel.

CHART-I

• ES Hour with the Ascending channel.
• Price at 1343.75 hits the channel top. We may see a correction But things will favor bulls till price remains in the channel.
• 1334 is an important support level for today.
• ES BREAKOUT
  

NIFTY Intraday Update

• Daily chart shows Two more resistance for bulls to break.
• Closing above 5560 will target 5605 and then the 50 day moving average.

NIFTY Daily Analysis

• Nifty did a pause day yesterday at its 20 day moving average. So close above this level will help bulls to extend gains.
• Closing above 20 DMA Price will target 5550 level were the resistance for index is strong.
• Weekly chart's Triangle is looking good. After finding support at the triangles support line with the help of a bullish hammer Price looks like it is ready for an up move towards the resistance line of the triangle and if that succeeds 5700 may be achieved.
• For bears Price has to break 5348 - 5370 support level on closing basis.
• S&P 500 Futures Four hour Chart