Weekly Analysis for Micro ES Futures (12/4/23)
December 4, 2023 - Weekly Analysis for Micro ES Futures
The Micro E-Mini S&P 500 Index Futures is up ~31% in 60 weeks (since mid-Oct 2022) at 4587.00
- Inverse Head and Shoulders, to the downside📉
- Inside a weekly consolidation range
- 2u-2u-1, inside week
- Weekly Bearish Target🎯 4544.50
- Weekly Bullish Target🎯 4607.75
Conclusion: Price is beginning to move downwards and is approaching the 50% retracement of the previous week. Will look at lower timeframes like the Daily, Hourly or 15minute to look for entry price.
The Micro E-Mini S&P 500 Index Futures is up ~31% in 60 weeks (since mid-Oct 2022) at 4587.00
- Inverse Head and Shoulders, to the downside📉
- Inside a weekly consolidation range
- 2u-2u-1, inside week
- Weekly Bearish Target🎯 4544.50
- Weekly Bullish Target🎯 4607.75
Conclusion: Price is beginning to move downwards and is approaching the 50% retracement of the previous week. Will look at lower timeframes like the Daily, Hourly or 15minute to look for entry price.
Trade closed manually
Price continued up and made all time highs passing the weekly bullish target of 4607.75.Currently retracing downwards after moving upwards for 9 weeks straight.
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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.
Related publications
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.