ES1! SPX500USD 2021 Nov 22 Week
ES1! SPX500USD 2021 Nov 22 Week
4674 / 4711 provided good trade opportunities. The bull/bear tug of war at
4700 region will resolve by
1) price returns to channel and continue upward (whipsawing still expected)
2) Exit of channel, market rotate / mushroom over
Weekly: Shortening of thrust and narrowing of spread. Price closed about
level with the 2 bars before it, volume is low. No demand for higher prices
at the moment. = Weakness may be expected
Daily: Upthrust bar closing off low on background of minor strength. If next
bar closes higher. strength will continue, wait for pullback to long.
If next bar closes lower will confirm weakness, wait for test of resistance to
short.
H4: Indecisive
Entries will be based on price reaction to the levels
Short = Test and Reject | Long = Test and Accept
4764 4733
4668 4648
4613 4590
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