Assessments / Blog

ES #F Break to the upside

Yesterday the ES continuous contract broke our 2432.75 level to the upside we warned about yesterday. The big Smart money down bar on the 11th together with the aggressive buying (Positive Delta) on that bar, should have been a clue to the reversal up that occurred after this bar. At the moment buying is subsiding and we could see a pullback down to the 2428.75 area. In our newsletter on the 10th we warned about higher prices if the spring formation of the 2413.75 swing low held and that seems to be correct after price made a high of 2442.75 yesterday. The immediate upside target looks to be the 2452 area.


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