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Assessments / Blog
ES #F No Selling pressure
Yesterday no Selling pressure developed, but there was also no follow through to the upside and a shallow pullback occurred to a low of 2546.25. At the moment price action is sideways, with no clear directional indication of the next substantial price movement. The levels to watch is 2553.25 to the upside and 2544.50 to the down side. Any bar close above or below these levels should attract more Selling/Buying. Watch out for the Simplified Volume Oscillator to develop Selling pressure to confirm any possible pullback. We got a possible reversal signal on the longer time frame.
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