Daily Analysis on ES (SPX futures) by ThinkingAntsOk
Use this as a guide to develop your view.
Main items we can see on the Daily Chart:
a)A 20% bearish movement has happened on the last two weeks
b)Looking for similar situations on the past we can check the decile on January 2018 and on October 2018
c)After the price found support, we saw a huge corrective structure composed of an ABC pattern. in this case, a Zig/Zag and a Flat.
d)Now we will be expecting something similar due to the price hit the main support at 2730-2700 / Out Target for the upper part of the structure is 3100
e)We expect opportunities to come when this structure is completed.
Main items we can see on the Daily Chart:
a)A 20% bearish movement has happened on the last two weeks
b)Looking for similar situations on the past we can check the decile on January 2018 and on October 2018
c)After the price found support, we saw a huge corrective structure composed of an ABC pattern. in this case, a Zig/Zag and a Flat.
d)Now we will be expecting something similar due to the price hit the main support at 2730-2700 / Out Target for the upper part of the structure is 3100
e)We expect opportunities to come when this structure is completed.