September 28, 2012

ES Support and resistance lines

 
  • ES Four hour chart shows  a possible contracting triangle pattern.
  • Crucial support is the 200 period SMA. Breaking below the triangle support line and 200 period SMA good result in a bigger correction.
  • Breaking the triangle resistance line could lead to new high's 
  • S&P 500 ANALYSIS AFTER CLOSING BELL
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