Yesterday, all attention was on the 5993 area in ES. I expected a rally back up to 6043 off that level, and we saw it hold in the morning before pushing back to 6043. Later into the close, the market retested 5993 area again, sparking a 20-point rally. Overnight, a strong flush occurred, but the level was reclaimed, printing a textbook failed breakdown—5993 is now pretty used up in my opinion.
As of now:
• 6016-20, 6037 are the next targets
• 5996-93 (weak) and 5980 are serving as supports
• If these supports fail, expect a leg down below
As of now:
• 6016-20, 6037 are the next targets
• 5996-93 (weak) and 5980 are serving as supports
• If these supports fail, expect a leg down below
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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.