ES has to break the 2990-3020 confluence of support to 2930
A break of the 2990-3020 confluence of supports leads us immediately lower to 2930, the 0.618 fib off the Feb ATH to March lows.
That is going to be a 70 point run without any heat, so just fade any rally attempt on the way from 2990 to 2930. We'll see from there where we go - I think lower still, the target would be 2840 (follow the blue circles).
That is going to be a 70 point run without any heat, so just fade any rally attempt on the way from 2990 to 2930. We'll see from there where we go - I think lower still, the target would be 2840 (follow the blue circles).
Comment:
Here is a zoom in of the box.
