ES weekend update

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  The ES finally broke out of the 1905 area and managed to close at 1931.25 ending the downtrend on the Daily chart.  The first pull back to the 1905 area should be defended by the bulls and this will be a good spot to place a long bet with your first target at 1947.

Daily 1
Daily 1

The weekly chart looks extremely Bullish as price has bounced off the 1850 area and continued above the 1900 area to close at 1931.25.  The weekly is still in a downtrend and the sellers should step in to take control in the 1981 area of mR...

Weekly
Weekly

There is no doubt that our hourly time frame is in a new uptrend as price hit the T1 area of 1927 on Friday afternoon.  At times the price action is not always clear enough to be able to simple draw in the lines of support and resistance until price does something and that happened Friday.  The 1910 area is mS now but the prior low now becomes the MS area which now I've realized that it should be the 1887.50 area Vs. where I had it at the 1864 level.  It is learning how to read inside of these price candles that has made me into a better trader...

hourly
hourly

        

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