- ES Daily chart sustaining above crucial support level of 50 and 200 Day SMA should give hope for bulls of a rally. But four hour time frame and One hour time frame has to turnaround above 50 SMA respectively for a sustained up move to happen.
- S&P 500 ANALYSIS AFTER CLOSE
- Nifty's Rising wedge has performed well so far.
- Performance of rising wedge has also helped the Diamond pattern to look good.
- Now for continuing the down move price has to close the day below 5090 - 5100 zone which is the 50 and 200 Day SMA.
- For bulls need a bullish candle from the above mentioned zone to negate the completion of the patterns.
- S&P 500 EOD UPDATE
- SPX Getting support near 50 day SMA and 38.2% Fibonacci level.
- Daily cloud too help bulls with an oversold bounce.
- Bears need a cloud breakdown for a trending down move to happen.
