A lot of people calling for another big flush 4200 etc and while this is possible, to me ES looks like a textbook bull flag.
Although we probably don't get a clean breakout with the recent trading being extremely choppy and tricky, full of traps, I think so long as 4485 holds bulls have the ball to more upside.
With a flag breakout brings 4575 and then 4610
If the bulls drop the ball and 4465 breaks, most likely see 4445 to 4410
My near term bias is bullish and although we may get more chop, I am looking for a flag breakout next week.
Although we probably don't get a clean breakout with the recent trading being extremely choppy and tricky, full of traps, I think so long as 4485 holds bulls have the ball to more upside.
With a flag breakout brings 4575 and then 4610
If the bulls drop the ball and 4465 breaks, most likely see 4445 to 4410
My near term bias is bullish and although we may get more chop, I am looking for a flag breakout next week.
Note
I should of drawn my lines longer : ) let's see if these next few days we get the "flag" breakout , Powell up Thursday, up or down IDK but expect volatility for sure and lots of fake moves.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.