Likely Daily Middle Band Test Next

Leave a Comment / Indexes / By

ES/SPX just consolidating here at the moment, though if there is a break and conversion of the 50 hour MA now at 2841 that would open a test of the open breakaway gap down from 2853.53. In the absence of a breakdown, the obvious next target would be the daily middle band in the 2800 area. Intraday Video from theartofchart.net – Update on ES, NQ, and TF:

On the bear side, there is now a very decent H&S formed on NDX that on a sustained break down below 6900 would look for the 6775 area. If this delivers then it may well carry the others lower. NDX 60min chart:

Stan and I are doing our free monthly Chart Chat on Sunday at theartofchart.net. We’ll be covering the usual wide range of instruments and you can register for that on our February Free Webinars page.

Written by:

Richard Chappell

Jack is a 20 year retail trading veteran and co-founder of The Art Of Chart. He started his blog at channelsandpatterns.net in 2010 and since has published tens of thousands of charts looking at hundreds of trading instruments across most tradeable markets, doing original work mainly in the areas of trendlines, patterns and divergences. At The Art Of Chart Jack has taught trading skills, technical analysis, and the discipline and trader psychology that allow those to be used effectively in trading.

01st Feb 2018

Leave a Comment

Your email address will not be published. Required fields are marked *

Swap your javascript code above