Thursday, December 06, 2007

TREND Chart: BULL TREND Resumed

My ES TREND Chart above...
PRICE effectively took out the PRIME Resistance of 1486.50 (Creating new PRIME Resistance at 1489.00), and then subsequently created a new PRIME Support at 1477.25 in yesterday's trading session. Going into the close, PRICE easily Breached 1489.00 (the last new PRIME Resistance), thus creating a new PRIME Resistance.

SWING Chart
PRICE now needs to clear the 1496.75 level (last PRIME Resistance - PRIME Lower High), in order to reverse the current Bear TREND, on the SWING Chart.

No comments: