JOIN OUR MAILING LIST
Assessments / Blog


2017-09-24
ES #F Will it hold?


The ES continuous contract closed Friday around the 2500 level. We mentioned on Friday morning that a break of 2492.75 (bar close below) will be needed for further weakness to develop and down ward follow through to occur. We did not have a bar close below that level and Buying pressure developed, pushing price to a high of 2501 on Friday. It also did not go through the 2501.75 level warned about on Friday. A Smart money up bar formed at the last swing high. The current upswing in progress drew 938540 contracts and moved 9 points. If follow through to the upside do not materialise, and price reverse below 2492, we could see some more weakness and a test of the 2487 area. A bar close above 2501.75 should lead to another new high.

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

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.


Back Back to top
Close