ES/MES week plan
After ES/MES broke out in June from it's resistance at 4327.50 that area became a high demand target. It rallied up to 4493.50, almost reaching 4500, but not before flushing back down and retesting 4369.50. Creating a new resistance that needed to clear for a move higher.
This week I'm looking for similar action to happen, but with FOMC on Wednesday anything is possible. With the break out from 4493.50 we rallied up to 4609.50 were we are now either going to base, or repeat a similar pattern and flush down to 4523.50 and reatest this zone before moving higher. If this level gets taken out then 4493.50 is the line in the sand before we go lower. This was the break out level that started the recent big move up.
Majore levels looking for upside are 4580.75, 4594.75, and 4609.50. levels for downside looking at 4560.50, 4551.50 and then 4523.50
This week I'm looking for similar action to happen, but with FOMC on Wednesday anything is possible. With the break out from 4493.50 we rallied up to 4609.50 were we are now either going to base, or repeat a similar pattern and flush down to 4523.50 and reatest this zone before moving higher. If this level gets taken out then 4493.50 is the line in the sand before we go lower. This was the break out level that started the recent big move up.
Majore levels looking for upside are 4580.75, 4594.75, and 4609.50. levels for downside looking at 4560.50, 4551.50 and then 4523.50
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.