Anticipating $ESH2025 to drop below 6070 by February 7All the usual disclaimers:
1. I am not registered with FINRA. I am not a financial advisor.
2. Prior performance is not a guarantee of future performance.
3.This post is not and is not intended as financial advice. Instead, this post shares speculation upon hypothetical possible future outcomes.
4. This post uses purely doodling and technical analysis. It is not based to any extent upon education from news sources, information releases from underlying firms, nor upon microeconomic nor macroeconomic principles.
A. The purple rectangle captures the recent downturn movement between December 5-January 14.
B. The green rectangle is a clone of that, based at the golden cross on January 14.
C. The orange rectangle is sized at 100 point range for 1 CME day, centered on last closing price.
D. The rectangle is sized at the 155 point range of December 18, 2024 for 1 CME day, centered on last closing price, starting from the opening bell.
E. Some downturn indicators arrowed to for discussion reference.
CME_MINI:ESH2025 is in the local zone of contention, which has been magnetic since Thanksgiving. It appears that it is more likely than not that CME_MINI:ESH2025 will remain within the local zone of contention for at least the next few days, returning repeatedly to 6130-6135. But, CME_MINI:ESH2025 is also far away from the 90 minute time frame's MA200 trendline, and since November CME_MINI:ESH2025 has dropped below that trendline four times. From that, I anticipate MA200 CME_MINI:ESH2025 to drop below 6070 by February 7.
Both downturn and upturn trends on the 90 minute time frame commonly have durations of either around 1-2 CME days. On the 90 minute time frame, a few downturn indicator dots accumulated at the end of the CME day on Friday, January 24. It's likely that the downturn trend will continue until at least pre-opening bell on Monday, January 27.
The range should be within 50 points, to an anticipated floor of 6080. For comparison, the total range was 85 points on Monday, January 20. If the downturn range extends to that of December 18, the anticipated floor is 6005.
If range turns bullish, the anticipated ceiling is 6185, with an outside ceiling at 6250.