ES will visit 3.7k and then decide what to do
Price is consolidating in a bear flag that could break below 3.8k.
Given that we have the 50 SMA crossing the 100 SMA from below (bullish), we could have a little rally here but not expecting fireworks (ca. 3.9k should act as resistance).
A break should happen below 3.8k, send the price to 3.7k, consolidate a bit and then move lower towards 3.6k.
We keep a door open for a possible rally to the top of the descending triangle (and close to 200 SMA), which will be around 4k.
Given that we have the 50 SMA crossing the 100 SMA from below (bullish), we could have a little rally here but not expecting fireworks (ca. 3.9k should act as resistance).
A break should happen below 3.8k, send the price to 3.7k, consolidate a bit and then move lower towards 3.6k.
We keep a door open for a possible rally to the top of the descending triangle (and close to 200 SMA), which will be around 4k.
Comment:
All right seems that scenario 2 played out with a test of the top of the descending triangle, now expect the hammer. If we break out we fly.