Monday morning update for the ES

Share Button

  Overnites price action looked bullish enough to believe that we might break the current downtrend on the 60 minute chart, but a retest of the minor support area (mS) without making a new low negated this mS area and now we can call it Major Resistance (MR).  Currently we are now in a sideways range between 1928-1883 and I'll be sitting on my hands (SOH) until we breakout above or below this area.  

Click on image to enlarge...

ES 01112016 AM
ES 01112016 AM

I've included a copy of the daily ES chart showing targets lower to the 1860 area of the ES...

Daily 01112016
Daily 01112016

And since it is Monday, here is a copy of the current weekly chart...

Weekly 01112016
Weekly 01112016
This entry was posted in ES Market update and tagged , . Bookmark the permalink.