- SPY Four hour cloud saving bulls for now from a bigger fall.
- Four hour candle shows a bullish engulfing pattern. This one needs price follow up to confirm bullishness.
- One Hour chart testing 50 Hour SMA. Sustaining above this level will extend this up move.
- ES Four hour chart shows price moving into resistance level.
- Price has to sustain above these levels for a bigger pullback to happen.
- Price near 200 Day SMA.
- Nifty also testing Golden ratio.
- Month chart shows price near Month Low EMA. If month low give support a turnaround is possible. One should also see the monthly chart for the perfect shooting star candlestick which is bearish and may give a bigger fall.on trading below month low EMA.
- Since the shooting star shown here is a monthly pattern It need a monthly close below 5 low EMA to confirm bearishness or strength of the shooting star or Inverted hammer.
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- ES Falling down in a channel as shown in four hour time frame.
- Daily is testing 50 Day SMA.
- 4 hour chart shows resistance at the cloud. For a bigger pullback price must break back above the cloud.
