Assessments / Blog

ES #F Up thrust?

Despite an effort to a new high, the ES continuous contract managed to go to a high of 2447.50 but no bar closed above 2442 on the 234-minute chart and price closed way down the high, looking like an up thrust occurred. Some moderate buying pressure still exist at the moment, but some weakness is developing. If the 2428.25 level to the down side is broken with some selling pressure developing and follow through, we could see the 2416.75 level being tested and maybe eventually 2401.75.


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