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Assessments / Blog 2017-05-31 ES #F Still sideways and narrow The ES continuous contract is still trading in a narrow range between 2416.25 and 2408. No bar closes above or below these ranges occurred, and the sideways price action is typical in an absorption phase. Volume Flow up and Buying pressure is developing, but so far it did not have a big effect on price movement. The MTF trigger is to the down side and a little weakness is developing, all mixed signals. A break above 2416.25 can spark a rally into the 2425 area and a close below 2408 can lead to a pullback into the 2402.50 to 2395.50 area. 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. |