MES looking over-extended. Potential pullback forming.
- Price is extending outside the upper channel
- Price failed to make higher highs
- There is a small but unfilled gap that could be looking to get filled.
We have been in a strong bullish trend for quite a few days now. A couple weeks ago price cranked the heat up in its bullish momentum but in consequence, leaving a gap unfilled. It is in my belief that we could be looking at an over extension on price followed with another pullback retreating to the unfilled gap at around 5458.50.
I would like to see price break below my level of 5,502 to confirm.
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