ES1!The price outlook for week of CPI
High lights:
- Long term uptrend is still active
- Uptrend retracement from last week bounces Fib 0.5 due to divergence on 1H time frame
- Short term down trend retraces and stopped around fib 0.38 area before CPI report on Wed
Depending on the CPI report following scenarios may in play
Bullish case:
Price keep retraces upward to hit following levels
PT1 5532
PT2 5562
PT3 5600
Bearish case:
Price pushes downward for 3rd leg to hit fib golden zone area
PT1 5400
PT2 5370
PT3 5330
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.