ES could catch a bounce
A few factors in this trade:
✅ Friday showed a nice bounce off the 3853 support level
✅ Bullish divergence on the MACD and RSI daily charts demonstrating seller exhaustion
✅ Wonky inverse head and shoulders and descending triangle could play out.
Two price targets on this one with a defined stop at 3842 (giving that 3853 level some room to breathe). Hoping we can get up to fill the Weekly gap on the futures charts, create another lower high, and continue with the macro downtrend.
✅ Friday showed a nice bounce off the 3853 support level
✅ Bullish divergence on the MACD and RSI daily charts demonstrating seller exhaustion
✅ Wonky inverse head and shoulders and descending triangle could play out.
Two price targets on this one with a defined stop at 3842 (giving that 3853 level some room to breathe). Hoping we can get up to fill the Weekly gap on the futures charts, create another lower high, and continue with the macro downtrend.
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