February 5, 2018

ES Chart Analysis before opening bell

  • ES Daily near 50 Day SMA. Daily close below this line will further strengthen Bears.
  • Real test for the daily trend will happen at the cloud. For a complete turn of the trend in daily time frame bears need to close price below the cloud.
  • Hour chart is trending in favour of bears. Hope for bulls when price move back above the cloud in hour time frame.
  • S&P 500 Weekend update