Assessments / Blog

ES #F Narrow trading range

Since the big down swing that ended on the 22nd, trading was in a narrow range. A bar close to the upside above 2442 can lead to more strength and to the down side the 2428 level is the line in the sand that can spark some more selling if we get a bar close below this level. The 2416.75 area should be tested with a second target at 2401.75, if price broke down out of the current trading range. At the moment there is strength coming into the market and if there is no follow through, weakness could develop again. Follow through to the up or down side is necessary to take price out of the trading range.


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