JOIN OUR MAILING LIST
Newsletter / Blog
ES #F Trading range continues
Still trading in the range of the last Smart money down bar. A break below 2416.75 is needed to spark some more selling and likewise a bar close above 2436 to the upside will get the bulls going again. The high in last up wave, was a Smart money up bar and price immediately reversed. It is a bit early to be reasonable certain, but this price action and volume at this stage looks a lot like a No demand situation, and if so, the previous up wave with the highest volume since May the 25th, looks like a Climatic buy situation, consequently a possible reversal down may occur. A little weakness is entering the market at the moment, so keep an eye on the Selling pressure. If it continues and there is follow through we should see another test of 2416.75 and also possibly the 2394.75 area.
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|