ES had a minor pullback yesterday in response to CNBC’s Marc Faber calling for a market crash soon. But this is summer, the market didn’t fall hard due to the absence of traders and investors .
This section contains the detailed buy/sell levels for Thursday. It is reserved for Daily and Full Access members only.
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Daily PMO indicator continues moving down, slow STO indicator gives a SELL signal. The ultra-short-term minor correction hasn’t completed yet.
2159.25 was last Friday’s unfilled gap. It is likely for ES to fill it first if overnight trading manages to hold price under 2175. Daily 20/40ema line could act as support and prevent price from falling today.
2183.50-85 will remain as a resistance zone. A break above 2187.50 could run buy stops to push price up to 2190.75 area, which will still act as a resistance line.
Short-term === Bullish
MEDIUM TERM === Bullish
LONG-TERM === Bullish
Support and resistance
Major support levels: 2120-21, 2112-14.50, 2100-1997.50
Major resistance levels: 2181.50-83.50, 2188.50-90.75, 2195.50-97.50