December 15, 2017

ES Charts before opening bell

  • Bounce from 200 SMA is helping bulls for now. But Bulls need to get back above hourly cloud to stop a bearish reversal from taking place. Bears need to keep price below hourly cloud to resume correction. Bigger fall only on hour closing below 200 SMA.

ES Chart Analysis after closing bell

  • Hour cloud shows price violating the cloud and falling back to its 200 Hour SMA. More weakness for ES Bulls on price closing below 200 Hour SMA.
  • Daily candle too shows weakness for ES Bulls.
  • GOLD Hour chart analysis