ES1! - "Ranges" 05/16/2022
Expecting something like this to play out to clear some of the weak handed bears - We are still in a obvious down trend.
We've had 5 rejections of the 4043 level, allot of sellers have been absorbed and I expect a break through to occur. I'm looking for the Feb 24 lows rejection. If we break the trend line drawn on the chart, I'll re-evaluate my plan with my short positions.
I don't have a crystal ball and cannot predict future prices, but will be actively looking for a bottom to occur around the 2021 open / 2021 lows [3650-3750 area], if we break these levels I'll be looking at the 3230 - 3400 levels.
We've had 5 rejections of the 4043 level, allot of sellers have been absorbed and I expect a break through to occur. I'm looking for the Feb 24 lows rejection. If we break the trend line drawn on the chart, I'll re-evaluate my plan with my short positions.
I don't have a crystal ball and cannot predict future prices, but will be actively looking for a bottom to occur around the 2021 open / 2021 lows [3650-3750 area], if we break these levels I'll be looking at the 3230 - 3400 levels.
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