JOIN OUR MAILING LIST
Newsletter / Blog


2017-06-23
ES #F Retracement upwards yesterday


As expected price made a retrace upward yesterday to a high of 2439. If weakness develop and the 2430 level is broken to the down side, we can expect a move to test the 2416.75 area. Medium term down side target as predicted by our reversal pattern, is still at 2401.75. If no dominant supply enters the market today, we should see a continuation of the upward retrace to the 2442.25 area. There is some strength developing with buying pressure at the moment. Watch for continuation of the strength or alternatively supply (volume flow to change to the down side) entering the market for further weakness to develop.

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.


Back Back to top
Close