Assessments / Blog

ES #F Close to a new high and pullback

The ES # contract came close to a new high yesterday before a pullback occurred. A bar close below 2417.50 can lead to greater weakness. All indicators are firing to the down side at the moment, but some aggressive buying is taking place on the last bar. A test of the low at 2412.50 of the Smart money bar on the 9th is possible. A close below this level can lead to a larger sell off to 2397. Some sideways price action is possible from here.


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