JOIN OUR MAILING LIST
Assessments / Blog
ES #F Grinding higher
Price traded to a low of 2620 on the last swing low on December the 6th and find resistance at these levels mentioned on December the 5th. Since then price grinded higher to the current price of 2656 just 9.25-points from the all-time high at 2665.25. Volatility decreased during this time.
Volatility is stable at the moment and at relative low levels. Should Volatility rise again we should see a pullback. If Volatility remains stable, we should see another high around the 2679 level. Price is at the top of the trend channel on the weekly chart, but shorter term there seems to be a little more room to make another new high. A divergence exists to the down side on the Simplified Volume Oscillator and if Selling pressure develops we can see a pullback to the 2644.50 to 2636.25 level.
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.