October 4, 2013

ES Chart update

  • ES Daily chart shows price at the rising support line. Daily time frame also shows price testing the cloud. These two levels must break for the bears to extend gains.
  • 4 Hour chart shows price movement between 50  period SMA and 200 period SMA. Here the 200 period SMA is getting violated too many times which the 50 stays strong. If this continues we may see a bigger breakdown below 200 period SMA.
  • ES Descending triangle breakdown

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