Brandon_WendellCMT

Brandon_WendellCMT

The ES cannot move the RSI back up above 60 for bullish momentum to break supply.

Brandon_WendellCMT

The bearish weekly ES trend is gaining strength and should take out recent lows soon. If the RSI drops below 40 as this happens it will signal more bearish momentum that will eventually take out the October lows in this bear market.

Brandon_WendellCMT

The ES continues in its bear trend on the larger time frame. Notice how the RSI indicates the bearish momentum as it stays below 60. If price makes a new low, the RSI should dip below 40 and continue to breakdown to take out the October lows.

Brandon_WendellCMT

The weekly and daily supply zones have been broken. Bullish momentum is strong and suggests a continued climb in price.

Brandon_WendellCMT

The trend is still bearish and there is a positive divergence in the 240 min chart that suggests a rally to get short again.

Brandon_WendellCMT

Crude oil is nearly through the monthly demand. Our next zone isn't until $12.78!