- ES Daily chart shows price moving towards 100 Day SMA.
- 2nd chart also shows a possible support in Lower Bollinger band.
- Bigger correction only if these levels are not held. Close below 100 SMA can be very negative for bulls as it may take price towards 200 SMA again.
- Another point to highlight is the strength of PIN BAR at crucial levels. This one at upper bollinger band has given good results.
My blog Analyses the trend and patterns of stocks, Futures, Commodities and Forex Markets
March 19, 2018
ES 100 SMA and bollinger band Updates
NIFTY Violates 200 SMA
- Nifty falls below 200 SMA.
- Bears need a daily close below this line to strengthen their position. If an intraday bounce takes price back above 200 SMA then that will keep the hope of a bounce for bulls alive.
- 4 Hour chart shows a possible falling support line. If held an intraday bounce is possible.
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