June 3, 2013
- ES is trading below the contraction triangle of one hour chart. But price is testing crucial support levels in four hour time frame. The range shown in second chart and rising 200 period SMA are crucial support levels. These levels has to be broken for a bigger down move to follow.
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- Daily chart shows price near crucial support zone between 5930 - 5970. This level must be broken on closing basis for a bigger down move to follow.
- Price also near 38.2% Fib level which may act as support.
- Weekly chart has a big bearish engulfing pattern and overbought indicators But price is yet to give followup by breaking below 5936 levels.
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