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Assessments / Blog 2017-06-07 ES #F Pullback and narrow range ES #F Pullback and narrow range The ES continuous contract made a pullback to 2426.25 just short of our 3rd target at 2424.75 before it reversed. The positive delta (aggressive buying) and the Smart money down bar after the swing low should have been a clue of the reversal upwards. Strength and buying pressure is developing and Volume Flow is to the up side. Beware of the big Trade resistance zone at 2433.75 where a lot of selling took place (indicated as thick red line at the right of the chart) and negative delta volume (aggressive selling) in the current up move in progress. This narrow price action can continue for a while and prices can reverse from 2433.75 to 2428.50 and 2426.50 again. Follow through to the down side can test the 2404.50 area again. A break of 2438 and 2439.50 should put the spring to the upside in action again. 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.
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