Assessments / Blog

ES #F Sideways action possible

The ES continuous contract ended higher yesterday but failed to take out the important high value node at 2471.25. It is trading sideways and this sideways movement may continue for a while. Buying pressure is subsiding at the moment. The 2471.25 level to the upside and the 2445.50 level to the down side should be watched carefully to see what the next substantial move will be. Bar closes above or below these levels with Buying/Selling pressure should lead to bigger movements. We have no confirmation as yet of our 2401.75 target calculated with our proprietary reversal pattern, but the pattern is still valid and may play out on Friday or Monday.

See results of our Strategy on the MTF Tool trading the EURO


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