Important Support and Resistance Points: 6066.50

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(ES1! 12M chart)

When looking at the Fibonacci ratio, the area marked with a circle is an important support and resistance area.

If there is an additional rise in the area where the current price is located, it is expected to determine the trend again around the left Fibonacci ratio point of 3.618 (6579.25).

If it fails to rise, it is expected to fall to the Fibonacci ratio range of 0.618 (5273.25) ~ 2.618 (5434.75).

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(1D chart)

The point to watch is which direction it deviates from the box range of the HA-High indicator.

The HA-High indicator is formed at the 6066.50 point.

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Since the MS-Signal (M-Signal on the 1D chart) indicator is passing around 6066.50, the 6066.50 point is expected to play an important role as support and resistance.

Accordingly, the key is whether it can be supported in the 6066.50-6106 range and rise to around the Fibonacci ratio 1 (6178.50).

If it falls below 6066.50, it is expected to fall to around 5935.75-5972.75.

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Ultimately, if it cannot get out of the box range of the HA-High indicator, you should trade within the box range.

The box range of the HA-High indicator is 5906.50-6148.0.

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Thank you for reading to the end.
I wish you successful trading.

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