May 25, 2016

S&P 500 Bearish upper shadows and Resistance zone

  • ES daily moving towards the resistance zone near 2110 level as shown in first chart. 
  • Month time frame shows candles failing to close above 2110 level. Although price violated this level bulls never manage to close above this zone. For a bigger breakout to happen month need to close above this level. Just a breakout above 2110 is not going to be enough.

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