ES - bearish setup
The overnight push up was shaped as abearish ascending flag
Watch the 50% retracement of the Monday decline = 6,036.25
Remember, 6,032.25 is the Weekly resistance
Bears have a setup to drive ES down to 5,987 with possible extension down to 5,972
I would not be surprised to see first a fake breakout of that flag tagging 6,036, the 50% retracement then brutal bearish reversal followed by a break under the lower blue trend line
A failed breakout is the best trigger / catalyst of a bearish leg to a lower low
The key level of support for this morning is 6,007
Watch the 50% retracement of the Monday decline = 6,036.25
Remember, 6,032.25 is the Weekly resistance
Bears have a setup to drive ES down to 5,987 with possible extension down to 5,972
I would not be surprised to see first a fake breakout of that flag tagging 6,036, the 50% retracement then brutal bearish reversal followed by a break under the lower blue trend line
A failed breakout is the best trigger / catalyst of a bearish leg to a lower low
The key level of support for this morning is 6,007
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.