ES Chart analysis

 

• ES Weekly shows support at 50 week sma for now
• Price is trying to move back above 200 Day SMA. Bulls need price to stay above this line
• One hour chart too shows price moving above the cloud which is negative for bears.

Nifty Chart update

• Nifty needs to sustain above the daily cloud and 100 SMA to sustain this upward momentum. Daily line chart shows price closing into a resistance zone. Important for bulls to stay above this to avoid a reversal.