JOIN OUR MAILING LIST
Assessments / Blog
ES #F Spring and then reversed
The spring formation mentioned on the 3rd resulted in a new high of 2488.50, exceeding our target set at 2483 a while ago. The price action at the new all-time high looks similar than an up thrust. Price immediately reversed from here and came to a low of 2457 (6.50 points from our proprietary reversal pattern target of 2450.50 as mentioned on the 8th). There is buying pressure present at the moment with more weakness developing, looking a lot like profit taking. A bar close above 2478 should lead to a new high. Our new upside target is set at 2500. A close below 2461.50 should see our immediate down side target being tested. Beware of geopolitical matters that can influence the market at any time.
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|