May 8, 2018

ES Charts after closing bell | Triangle and Moving average

  • Price continue to stay in the apex of the pattern. Looks like it will move to the edge of the Apex before a breakout or breakdown could happen. Since its a triangle false moves are very much likely to be seen.
  • Overhead resistance at 50 and 100 SMA. Close above these lines may hint of strength. Remaining below it will favour bears.