ES Continuing In A Range.
As of 10-20-22 ES on the 12 HOUR chart is still trading inside a range since 10/02/22.
After a second failed breakout of the range, it has traced almost halfway back through the range. Given the BEARISHNESS of the previous 12 HOUR candle and the strength of the current 12 HOUR candle as of 6:30PM CST, I would expect more downside is possible.
A break above 3778 would indicate possible reversal if a higher high could be set after a lower low by price not retracing all the way to the bottom of the range...
We have supply at 3673 and 3739, resistance at 3695 and we just double bottomed off the daily low. Will probably be some chop here before any big move. Quick scalps would be possible.
After a second failed breakout of the range, it has traced almost halfway back through the range. Given the BEARISHNESS of the previous 12 HOUR candle and the strength of the current 12 HOUR candle as of 6:30PM CST, I would expect more downside is possible.
A break above 3778 would indicate possible reversal if a higher high could be set after a lower low by price not retracing all the way to the bottom of the range...
We have supply at 3673 and 3739, resistance at 3695 and we just double bottomed off the daily low. Will probably be some chop here before any big move. Quick scalps would be possible.
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