August 5, 2016

ES Chart update

  • ES 4 Hour chart shows price breaking resistance zone and testing recent high's
  • Daily did violate 20 SMA But never closed below it. 

ES Chart Analysis

  • 4 Hour chart shows price reaching the resistance zone of the range.
  • One hour chart shows a bullish channel in place. Bears need to break below the channel support line for weakness to set in.
  • Previous bullish attempt failed. Bulls are getting ready for another attempt

Gold resistance zone and Bullish price action

  • 2nd chart shows a bullish ladder. Bears need to break it to avoid another upper breakout
  • Ist chart shows the key resistance zone around 1370 - 77 levels. A bigger up move likely to happen if this level is taken out by gold bulls.

S&P 500 Futures analysis after closing bell

  • ES 4 Hour chart shows price unable to move above the cloud.
  • Price also getting resisted at the Golden ratio.
  • Last chart shows price moving back into the range. Both upper and lower violations failed to give a directional move.