Tuesday, 17 August 2010

ES Resistance 1092-4

I'm expecting a positive day today, though the gains may well be given back tomorrow. Looking at ES, I'm seeing resistance for today in the 1092-4 area:


dreadwin pointed out a bearish engulfing candle on $RVX, the volatility index for the Russell 2000. This adds to my feeling that we have seen a low now that will last at least until the end of the week:


On EURUSD we have a decent short term rising support trendline with current support near 1.284:


AUDUSD has broken up from the broadening descending wedge of recent days and looks like it may well reach 91 today:


The key resistance level to clear today is at 1084.5 ES. If ES can make it up past 1090, then 1084.5 may well turn into support for tomorrow.

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