ES1!
Couple things going on here:
- At 62% fib of most recent up move
- At support level from most recent set of higher highs
If break below support:
- Could retest 50% Fib associated with major down move, which would correspond with bottom of my risk range and oversold levels.
If support holds:
- could see 2845 (retest of 50% from most recent up move and neckline from H&S)
- test of 62% fib from major down move
- At 62% fib of most recent up move
- At support level from most recent set of higher highs
If break below support:
- Could retest 50% Fib associated with major down move, which would correspond with bottom of my risk range and oversold levels.
If support holds:
- could see 2845 (retest of 50% from most recent up move and neckline from H&S)
- test of 62% fib from major down move
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.