There needs to be a conviction of bearish bias once price breaks the 200 line or else it will just be the usual intra-day activity of buy the dips.
SEN: Bullish
ST: DOWN
PA: NA
Monday 25 April 2016
25 Apr 2016 - Non Eventful Down Day
ST still down trending regardless of the rally back to almost unchanged. The 200 moving average in the 60 min. chart is now inline with the blue dotted trend line and should serve as support if price is seen going down. The ES today seemed to show a nice break to the downside but instead closed with the signals back up above the 200 moving average of the hourly chart. It seems that the ES is very comfortable just wallowing around the 200 hourly moving average. As seen in previous charts, it has been the status quo for quite some time.
There needs to be a conviction of bearish bias once price breaks the 200 line or else it will just be the usual intra-day activity of buy the dips.
SEN: Bullish
ST: DOWN
PA: NA
There needs to be a conviction of bearish bias once price breaks the 200 line or else it will just be the usual intra-day activity of buy the dips.
SEN: Bullish
ST: DOWN
PA: NA
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