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ES #F Buying without upward progress

At the moment price is trading sideways with no bar close above the important 2562.50 to 2563.50 level. Buying pressure developed, without significant upward progress so far, which is a characteristic of absorption taking place. A bar close above 2568.50 can get the Bullish story on track again. The spring formation is still valid and test of the 2557.75 to 2556 area is a possibility. A bar close below 2554.75 with Selling pressure can lead to more weakness.

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


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