July 6, 2012

ES Falling from resistance line


  • ES Falling from resistance line which was discussed in an earlier post.
  • Price moving towards 50 Period SMA of four hour chart. If this level does not hold bears will extend gains.
  • One hour chart also shows possible support near 38.2% Fib level. Breaking below this level will take ES towards 200 Hour SMA or 50% Fibonacci level.
  • S&P 500 ANALYSIS AFTER CLOSING BELL


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