Assessments / Blog

ES #F Double top

The current upswing in progress made an equal high at 2585.50 as the previous upswing on November the 1st. The two upswings drew more or less the same number of contracts and price moved 20-points and 22-points respectively. Currently the Comparative strength indicator is developing weakness and the Simplified volume oscillator shows buying pressure is easing. If Selling pressure develops and price close below 2571 we can expect weakness to develop. A bar close above 2585.50 can lead to a new high.

Keep an eye on the volatility index ($VIX). According to the CBOE, October 2017 was the least volatile month in the history of the index readings. A sudden rise in volatility will lead to a larger Sell-off and the 2563.50 level should come into play and if broken expect more sellers to enter the market.

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


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.