JOIN OUR MAILING LIST
Assessments / Blog


2017-05-30
ES #F Sideways in narrow ranges


Since the high on the 25th the ES continuous contract has fallen in a narrow range, with the smallest ranges seen in a long time. A little Selling pressure and weakness are developing and Volume Flow is to the down side, without big movements in price. Also keep in mind that the last price action happened in the holidays. A bigger pull back to the 2408 to 2402.50 area is still possible. Watch out for bar closes above 2416.25 and follow through for an up move and below 2410.50 and follow through to the down side. On the long run the Elliot wave projected targets are at 2487, 2493 and 2549 to the up side. The current up wave is the largest for a very long time and has not retraced enough to form a down wave, thus it is still in progress. This sideways action is often similar to a spring winding up and then when released, it travels quickly in a direction up or down with some force, leading to bigger market movements.

Join FB group "Trading For An Income" : https://www.facebook.com/groups/1832814697041353

RISK DISCLOSURE:

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.


Back Back to top
Close