For the swing traders out there, ES is showing a handful of warning signs indicating the recent uptrend is about to collapse:
a. Testing strong resistance at 0.618 Fib
b. Volume unusually light on the 0.50 Fib breakout
c. 1D Stoch close to peaking at 100
d. Up 7 days in a row for the first time since week1 2018
Waiting for the candlesticks before pulling the...
A confluence of signs are pointing to a reversal of the minor downtrend in cattle. The 118.75 level has been tested several times. Looking for a closing break of the trendline accompanied by some solid volume to validate the reversal. If so, looking to cash in a little with a minor price target at 125.