On Friday, sellers lost a three-day support zone at 6060, triggering a 60+ point sell. Buyers gave us a late-day short squeeze to the 6027+ target before the sell-off continued.
As of now: It’s straightforward. Bulls must reclaim 5986 to squeeze toward 6006+. Otherwise, watch for 5955 and 5942 as next downside levels.
As of now: It’s straightforward. Bulls must reclaim 5986 to squeeze toward 6006+. Otherwise, watch for 5955 and 5942 as next downside levels.
Trade active
Mentioned yesterday that a deeper sell will start below 5987 and investors agreed...continuing the dip in ES that began with the 6100 backtest last week. Remember that big dips end once a major resistance reclaims, trapping recent shorts. Right now, buyers need to reclaim 5942 to pop to 64-65. 5908-13 is next target down for sellers. 
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.
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.