There was no big change in the ES yesterday. Price remained inside the range from 2093.50 to 2065 to wait for final results from the Brexit referendum today.
Once all the votes are in the final result will be declared by the referendum’s chief counting officer, likely before US markets open on Friday.
Today could be a choppy news day. The price is likely to fluctuate in response to the news flow as traders try to anticipate the final result.
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The daily PMO indicator continues to decline and the slow STO indicator still moves up. The divergence between two suggests there is a chance for the ES to have a news sell-off move.
Therefore, both 2093.50-95.50 Resistance and 2062.50-59.50 support zone need to be watched carefully. Failure to hold either (or both) could lead the ES to have a breakout and reversal move.
Short-term === Neutral
MEDIUM TERM === Neutral
LONG-TERM === Bullish
Major support levels: 2055.50-53.50, 2043.50-42, 2035.50-32
Major resistance levels: 2093.50-95.50, 2100-03.50, 2114-15.50