Assessments / Blog

ES #F Pullback in progress

As can be expected from low volume days, the ES continuous contract traded in a narrow range yesterday. It came close to the all-time high yesterday with a high of 2439 and the low at 2433.50. At the moment selling pressure and weakness is again developing with volume flow to the down side which confirms the pullback in progress. Our first pullback target is 2430, as the first target set yesterday of 2432.25 was reached one bar ago, with 2424.75 and 2416.50 the next projected targets. A bar close below 2411 should change the near term bullishness. Our upside longer term targets remain at 2545 and 2459.

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