January 7, 2016

ES Weekly Rounding Top

  • ES Weekly chart shows a Multi-Month rounding Top pattern. For a trending move in Higher time frames price must move out of this pattern. For now price is forming the right part of the pattern. Price sustaining below 100 Week SMA will strengthen bears.
  • 4 Hour chart shows price violating a support line. very short term may favour bears if stays below this line.
  • CRUDE Oil Multi - Years Lows


  1. I think the pattern is interestingly targeting the 2008 highs near 1575 which should come into play in 2016

    1. Once and if price moves below 1800 then 2008 is a definite possibility