### **Current Situation**
1. **Price**: The ES futures contract (ESM2025) is currently at 5,391.25, up +89.25 (+1.68%) today.
2. **EMA**:
- EMA 5,749.80 is above the current price, indicating potential resistance.
- EMA 5,639.12 is also above the current price.
3. **RSI**: The Relative Strength Index is at 43.96, suggesting the market is neither overbought nor oversold.
### **Technical Analysis**
#### **Elliott Wave Theory**
- The chart suggests the completion of a 5-wave upward move, labeled (1) through (5).
- Currently, it seems the market might be undergoing a corrective phase.
#### **EMA Analysis**
- **EMA 5,749.80**: This EMA level might act as significant resistance.
- **EMA 5,639.12**: Like the other EMA, it presents resistance.
#### **RSI Divergence**
- The chart marks "Bear" zones. The RSI reading of 43.96 doesn't confirm oversold conditions, but it's approaching that area.
### **Recommendations for Traders**
1. **Short-Term Strategy**:
- Watch for resistance around the 5,640 level (EMA 5,639.12). A failure to break above this level could signal a continuation of the downward correction.
- If the price breaks above 5,640, it could test the higher EMA around 5,750.
2. **Medium-Term Strategy**:
- Be cautious about the potential for a deeper correction following the completion of the 5-wave pattern.
- Key support levels to watch include prior wave 4.
3. **Levels to Watch**:
- Resistance: 5,639.12 and 5,749.80.
- Support: Prior wave 4.
### **Conclusion**
The ES futures appear to be in a corrective phase after completing an upward 5-wave pattern. Traders should watch key resistance levels and be aware of the potential for further downside. A break above the EMAs could signal a continuation of the uptrend.
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Answer from Perplexity: perplexity.ai/search/provedi-analiz-dvizheniia-tsen-LJo3GYGgQm6kiLbtOscCTw?0=d&utm_source=copy_output
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Disclaimer
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.