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Assessments / Blog


2017-02-01
ES #F Pullback?


The ES continuous contract is trading a whisker above the high of the previous trading range at 2277 after the bearish break down from the high on 26 January 2017. It will take some effort to wipe out the damage of the selloff that occurred from the high. The current up wave looks like a pull back into the 2277 resistance zone. Follow through to the down side and a break of 2251.75 is needed to confirm the bearish story which could lead to a selloff. Today’s FOMC meeting will give further direction in the markets.


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