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Assessments / Blog 2017-12-15 ES #F Supply On the 13th we mention the large volume with not much gain for the amount of volume, a sign that demand was spend and supply entering the market. The pullback from the high of 2675.50 to the low of 2651.75 on the last swing low (23.75-points or $1187.50 per contract) was the result and our downside targets set on the 13th of 2655 was met with ease. This move was also confirmed by our Comparative Strength tool, demonstrating weakness, the Multi Time Frame Alignment tool down and Simplified Volume Oscillator, showing selling pressure. Price is moving sideways to up at this time, still in Selling pressure territory and we expect a pullback from the last swing low to around the 2663.25 to 2667.25 level. Should Selling pressure continues, a move down to 2646.25 can occur, and with follow through it is possible to see 2620 being tested. 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. |