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2016-12-13
ES #F_13Dec2016 Pull back to 2242 to 2234.50 area possible


It is 11h25 Eastern Standard Time. The fundamental indicator shows a little weakness and the Volume Oscillator is negative, although it looks like there is some buying at the moment with the oscillator line rising. The support area between 2034.50 and 2242 stand out and if selling continues this area may be retested. On the last down wave there was a lot of selling but with less reward, thus watch out for selling to continue before taking any shorts. The ES is trading currently in a congestion zone between 2248.75 and 2253.75. A break of 2253.75 could lead to price reaching 2255.50 and 2262.50 (High volume nodes) and a break down from 2248.75 can test the 2242 to 2234.50 area.


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