ES mainly went sideways and tried to hold price up around 2200 level for monthly closing.
Member content
This section contains the detailed buy/sell levels for Thursday. It is reserved for paid subscribers
Want more?
You can get instant access to this information and other valuable stuff for a modest monthly fee. Please visit this page for the details.
Hi , Read or download the full trading plan here:
[gview file=”https://www.naturus.com/wp-content/uploads/2016/12/161201-ES-plan.pdf”]
Today 2198.50-97.50 will be a key zone. A stay above it could push ES up to test yesterday’s high area. A move below it could go down 2191-2189.25 (Aug/Sept monthly high) which was current monthly breakout point.
Both daily PMO and Slow STO indicator are overbought. Yesterday we saw strong but orderly selling at 2213.50-11.75 in the early morning, then at 2208-06.50 around lunch-time,zone, and at 2198.50 after 4pm NYSE closing. it indicates that more selling could following soon. Therefore we should continue to focus on the sell side if there is a bounce today.
Support and resistance
Major support levels: 2190.50-93, 2183-81, 2172-74, 2165-62.50
Major resistance levels: 2212-10.50, 2220.50-26, 2235.50-37.50, 2245-48
Outlook
Short-term —- Bullish
Medium term —–Bullish
Long term —- Bullish