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Assessments / Blog 2017-12-06 ES #F Trading at Resistance Volatility increased Yesterday after price went sideways initially and after a bar close below 2639.50, moved 12.25-points down to a low of 2627.25. Selling/Buying pressure are more or less equal at the moment. We can expect resistance at the 2525.75 to 2619.75 level. The mini spring formation from the 2619.75 base line is still valid. The down swing from the high to the current level looks like a test of these levels and an upswing from here will confirm the formation and price should trade higher to a new high. In our view the market is at an important level at the moment. An upswing from the current level and bar close above 2652.75 will get the Bullish story on track again. A new high around 2693 is possible if this scenario materialise. If the 2619.75 level is broken a deeper pullback to as low as 2584.25 is possible. A bar close below 2613.25 with sustained Selling pressure, will be a serious threat to the near term uptrend. 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. |