ES 4H Analysis
ES experienced a remarkable surge in the past week. However, we've returned to the crucial breakout and retest range of 4400-4430. For the rally to persist, it would be ideal for ES to have a moderate retracement and maintain demand in the vicinity of 4325-4340. While the price might continue its upward trajectory without a pullback, a measured retracement would be a positive sign. It's essential to remember that we remain in a declining channel and are approaching a vital zone characterized by the breakout, retest, and trendline resistance. Anticipate inconsistent and sluggish price movements (cooling period) before either a continuation or a reversal.
Key levels to monitor:
Resistance: 4400-4430
Support: 4325-4340
Key levels to monitor:
Resistance: 4400-4430
Support: 4325-4340
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.