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Assessments / Blog 2017-08-03 ES #F Possible spring As anticipated yesterday the weakness lead to a down move with a low of 2463.25, but there was no bar close below 2465.50. There is selling pressure at the moment but no follow through occurred and prices closed above the middle of the Smart money down bar and moved sideways. This price action looks like a mini spring from the 2468.25 resistance zone (3 day LVA). If buying pressure develop and the spring formation holds, prices should move higher from here. A bar close above 2476 would confirm this scenario. A bar close below 2465.50 would spark some more selling. RISK DISCLOSURE: 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. |