January 24, 2014

ES Chart update

  • ES testing daily ichimoku cloud. Unable to hold above this level may lead to more falls. This zone may also lead to an oversold bounce before fall resumes again.

GOLD Bullish price action and resistance levels

  • Gold violates the falling resistance line from 1430 levels.
  • For gold bulls price need to close above 100 Day SMA to extend gains towards the 200 Day SMA. 200 SMA is near 1300 levels.
  • ES Chart update

ES Chart update

  • ES Violates the crucial 200 Period SMA. 
  • Bulls trying hard to defend the Range bottom and 38.2% Fib level. Price closing below these levels will extend gains for ES Bears.

DOW Jones Analysis after closing bell

  • Dow Jones daily chart shows price testing 50 Day SMA.
  • Second chart shows the previous resistance zone trying to act as support.
  • The rising suport line from 14850 levels has been violated. Breaking the horizontal support zone on closing basis will extend gains for bears.
  • ES Chart analysis