October 20, 2017

ES Analysis after closing bell

  • The bearish rising wedge pattern did move towards Bears but only for a little while. Technically it reached the Target which was the base of the pattern But for the Negative divergence seen it could've done more. But bulls though otherwise.
  • Now the base of the pattern around 2540 becomes a crucial support zone since Bulls found support there during this correction.
  • Price in one hour has moved back above the cloud.