There is a lot to take in regarding the Monthly Chart of ES Futures. I believe we are setting up for the right shoulder and should rally into Monthly supply forming a lower high. The October low was only at the 50% mark. Demand from the ABCD move in 2020 puts the pullback into the Golden Pocket of 50-68%. The ABCD move of the right side of the head and shoulders with land price into the golden pocket. The measured move of the Head and shoulders puts price down at 2500 area into the Monthly Channel bottom and the Monthly 200sma.
On the Monthly the trend is down with the short term being bullish trying to find the potential lower monthly high
On the Monthly the trend is down with the short term being bullish trying to find the potential lower monthly high
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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.