Assessments / Blog

ES #F Pullback and Sideways

As expected a pullback to 2419.25 occurred yesterday, before price continued upwards again. The price action after the expected pullback did not took out the 2432.25 level and mainly went sideways after the pullback. In the last couple of hours, it looks like a lot of buying took place, without a great result (upward price movement). The Delta volume (aggressive buying) was the highest since May the 25th. If there is no follow through today and we get a bar close below 2411.75, we may see the 2390 area being tested. A bar close above 2432.25 could favour the bulls and attract some more buying.


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