Es levels & Targets Aug 21st
Monday, my target for the rally was 5629, and ES certainly confirmed it. We saw it tested five times from above yesterday and another five times from below. The 5629-5612 range has been nothing but pure chop—overtrading in this zone is a recipe for losing money.
As of now: Buyers need to hold the line at 5623 and 5612 to keep the targets of 5636, 5642, and 5651+ in play. If 5612 fails, we’re likely heading down to 5604 or even 5574.
As of now: Buyers need to hold the line at 5623 and 5612 to keep the targets of 5636, 5642, and 5651+ in play. If 5612 fails, we’re likely heading down to 5604 or even 5574.
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