ES SPX Analysis
Es is very far away monthly demand zone (1959.25-1794.75) but inside of a weekly supply zone (2105.25-2079.75). However it just created a daily original demand zone at 2091.75-2073.50.
In these conditons, we are inside of a weekly zone where previously sellers had their strenght but the daily original demand zone may give us a difficulty going downard.
We can follow 2 scenarious here;
1- Black: if the price manages to break above weekly supply zone, we can be willing buyers at original daily demad zone
2- Red: if the weekly zone gains momentum towards south and manages to break below 2073.50, we can look for a newly daily supply zones being formed to become a seller.
tradewithcan.blogspot.com.tr/2016/05/weekly-bulletin-21-wekk.html
twitter.com/TradewithCan
In these conditons, we are inside of a weekly zone where previously sellers had their strenght but the daily original demand zone may give us a difficulty going downard.
We can follow 2 scenarious here;
1- Black: if the price manages to break above weekly supply zone, we can be willing buyers at original daily demad zone
2- Red: if the weekly zone gains momentum towards south and manages to break below 2073.50, we can look for a newly daily supply zones being formed to become a seller.
tradewithcan.blogspot.com.tr/2016/05/weekly-bulletin-21-wekk.html
twitter.com/TradewithCan
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.