We are at a point were speculation can take over reality and I am hesitant in picking a direction specially when we have PPI coming out tomorrow.
Still today I was expecting for ES to take out its highs at $4498 which it did, but I was also looking for a stronger rejection that the retest we got. This is due to the Dollar weakness.
Tomorrow Thursday is hands off till after news.
What can happen?
Price can stablish a new high and continue higher towards it target at $4586 not sure if we have the juice for that but it is best to be prepared.
It all depends on what is taken out first.
Yes.
If the lows at $4500-4496 are our first target the we can expect if we see a bounce a new High and a good attempt for those really juicy highs at $4586
Please keep in mind the dollar index it should be your guide.
What I would like to see?
I would like to see energetic stregth to the upside if not we are bound to retest lows sooner rather than later.
Still today I was expecting for ES to take out its highs at $4498 which it did, but I was also looking for a stronger rejection that the retest we got. This is due to the Dollar weakness.
Tomorrow Thursday is hands off till after news.
What can happen?
Price can stablish a new high and continue higher towards it target at $4586 not sure if we have the juice for that but it is best to be prepared.
It all depends on what is taken out first.
Yes.
If the lows at $4500-4496 are our first target the we can expect if we see a bounce a new High and a good attempt for those really juicy highs at $4586
Please keep in mind the dollar index it should be your guide.
What I would like to see?
I would like to see energetic stregth to the upside if not we are bound to retest lows sooner rather than later.
Trade closed: target reached