As you can see the former support level has turned into a resistance level, I expect this resistance to hold firm and that we will continue the long term downtrend. If ES goes back to the 910.00 level, I will be adding to the swingtrade that I started yesterday at 897.50. I moved the stop higher to 915.00 from 912.50 and will be looking to reverse the short to a long if we do break those levels.

Good trading today!

This entry was posted on woensdag, mei 27th, 2009 at 08:43 and is filed under Charts. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.