02-26-2008, 08:57 AM
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| ES Analysis - 2/26/2008
Where would the current rally lead to is on the mind of many investors right now. The chart enclosed shows the formation of a Gartley pattern on the 60 minute chart of ES, We have critical overhead resistance at point D, approximately 1381 on the ES. The market can turn down from this level.
If this pattern fails by either the market blowing through the 1381 level(not likely), or forming a bull flag (more likely), then an investor can anticipate the resumption of the bull market. If the Gartley pattern holds, then we are likely to test the Jan low. |
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