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ES #F Bullish reversal as expected
As stated yesterday the pullback/reversal was anticipated by the net buying (Delta volume) and the increasing down wave volume with no greater move/result than the previous down wave and the big Smart money bar at the bottom of the last completed down wave. The ES continuous contract rose sharply after the Fed’s decision on interest rate was as expected by the market. There was numerous solid signs to go long yesterday: 1. the strength on the Relative strength indicator, 2. Multi time frame Trigger fired to the upside, 3. Buying pressure was developing on the Volume simplified oscillator and the Price action indicator was in synchronisation. Our first targets to the upside is 2412 and 2419 for the current projected Elliott wave 5. A close below 2362 can change the current bullish trend.
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