long term channel
es is approaching the midline of a long term channel.
the previous times we've ever come close to it, 7\8 times es went below it for a pretty intense bear trap.
if history repeats itself, and we happen to dive below it again, i reckon we could find a temporary bottom at $3550 (38.20% retracement when measuring from the highs to the covid low).
the previous times we've ever come close to it, 7\8 times es went below it for a pretty intense bear trap.
if history repeats itself, and we happen to dive below it again, i reckon we could find a temporary bottom at $3550 (38.20% retracement when measuring from the highs to the covid low).
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.