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ES #F Buying pressure
We warned about the aggressive buying developing on Friday, which continued with strength. The result was not only a pullback as expected, but price traded to a high of 2429.25, exceeding the Smart money down bar’s range. At the moment the price formation looks like a spring of the 2413.75 swing low, with a test of this area on Thursday. If this scenario is correct, we can expect higher prices in the short/medium term. A pull back down to around 2419.50 is likely. A bar close above 2432.25 could favour the bulls and attract some more buying.
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