September 26, 2013

JP Morgan Chase Chart analysis

  • JPM Daily chart shows price taking support at its 200 Day SMA. Second chart also shows price taking support at 50.07 - 50.11 support zone.
  • Last chart shows strong resistance at 50 Day SMA and the presence of the bearish Head and Shoulders pattern.

ES Chart update

  • ES Continues to trade below the hourly cloud. But the 4 Hour chart is trading at crucial support zone. Close below 100 SMA should give the Golden ratio. Taking support here will invalidate the Head and Shoulders pattern.