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Assessments / Blog 2017-06-08 ES #F Up and down in a range As warned yesterday prices traded into the resistance zone at 2433.75 to 2434.50 and reversed with a low of 2424. A Smart money bar with Positive delta (aggressive buying) occurred at this swing low and price moved up to a high of 2435 from here. At the moment price action is again at this important zone (indicated as thick red line at the right of the chart). If this zone does not hold and bars close above 2437 we could have another move up with a new high (taking out 2439.75). At the moment strength is coming into the market, but selling pressure seems to be dominating and Volume flow is more or less balanced (warning of volume flow up getting exhausted). A break of 2426.50 down should spark some more selling and a close above 2437 will probably lead to another move up. Be careful with your trades today as the market can react sharply to the testimony of Mr. Comey regarding his interactions with President Trump. “The testimony, which Comey is set to deliver Thursday in one of the most highly-anticipated Congressional hearing in decades”. 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. |