March 22, 2018

ES Charts before opening bell

  • Bounce was resisted near 2750 zone.
  • second chart shows the steady breakdown or a trending down swing in 4 hour time frame.
  • Last chart shows possible support zone.

NIFTY 50 Week SMA and 4 Hour Trend

  • As long as price holds above 50 Week SMA there is hope for bulls for a bounce. Only a weekly close below this line will further strengthen bears.
  • 4 Hour chart with crucial moving averages shows the strength of the move. Falling moving averages shows bears in control But bulls can change this with a high velocity bounce. If the bounce lack momentum then bulls will face resistance at those moving averages.