JOIN OUR MAILING LIST
Assessments / Blog
ES #F More buying
After some temporary bearish tunes and a swing low on April the 17th, more buying pressure developed gradually over the last 3 days in the ES continuous contract. The current Wyckoff volume up wave in progress, is the highest point up move since the up move that ended on April the 5th. No bar closed below the 2332.25 level, as mentioned in a number of previous analysis, to look out for since the previous swing low and price action and the extend of the current up move suggests that supply is spent for now. The Volume Simplified Oscillator shows a little selling pressure is developing and a pull back is possible to the 2342.50 to 2336.75 area. The Cumulative Volume Oscillator shows that the recent buying volume up swings is increasing and higher prices are likely, after completion of a possible pull back. A bar close below 2332.25 can turn buying sentiment around.
The information delivered here is for educational purposes only and is not intended to be a recommendation to purchase or sell any of the stocks, futures or other securities referenced. All references are for illustrative purposes only and are not considered endorsed or recommended for purchase or sale by MC Trading.
Trading Forex, Stocks and Options, Futures and any Commodity or ETF contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing ones financial security or life style. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results and no representation is being made that any account will or is likely to achieve profits or losses similar to those shown. MCTrading has taken reasonable measures to ensure the accuracy of the information contained herein and on this website, however MCTrading does not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or from an inability to access such information or any delay in or failure of the transmission or receipt of any instruction or notification in connection therewith.