Basing Beneath The 50dma: Decision Days Ahead. Jan 18/19 Chart and Plan
US Markets closed today so ES not doing much, I suspect there will be a tricky few days of trading ahead though that will require agility & a level to level approach. As written in Friday’s post 4667 was immediate resistance and ES clipped this zone, sold off overnight Sunday, and now just basing here. This general zone compromised not only the highs on Friday, but todays/Sunday nights highs and no coincidence why - it happens also be roughly the 50dma. Obvious indecision here around the 50dma: Price lost it last week, recovered it, lost it again Friday, and now stuck below. Decision time coming, heres whatI’m looking for. Chart and Analysis below