ES Charts of The Day November 18, 2016

Daily:

The Bulls pressed their advantage right off the regular open with a hard push higher.  Bulls never looked back and were able to print a new contract high for December at 2185.50.  As we head into Friday's session we've seen a minor pullback to the 2177 area.  Bulls will need to keep up the pressure and push toward the continuation high 2191/92 and the upper Bollinger Band.  If the bears are going to mount any threat at all they must convert 2177 and 2170.

The Bulls pressed their advantage right off the regular open with a hard push higher. Bulls never looked back and were able to print a new contract high for December at 2185.50. As we head into Friday's session we've seen a minor pullback to the 2177 area. Bulls will need to keep up the pressure and push toward the continuation high 2191/92 and the upper Bollinger Band. If the bears are going to mount any threat at all they must convert 2177 and 2170.

 

Hourly:

You can see a trendline from the Monday low and Thursday lows that Bulls tested and held during the overnight.  Bulls want to stay above both that support line and the daily pivot in order to make another higher high and a push toward 2191/92.  Bears must execute the opposite and take out yesterday's low in order to cause Bulls any concern at all.  Advantage Bulls headed into today.

You can see a trendline from the Monday low and Thursday lows that Bulls tested and held during the overnight. Bulls want to stay above both that support line and the daily pivot in order to make another higher high and a push toward 2191/92. Bears must execute the opposite and take out yesterday's low in order to cause Bulls any concern at all. Advantage Bulls headed into today.