Mack’s Mid-Morning ES Price Action Chart 10-26-2023
- Home / Non Member Articles (Free) / Mack’s Mid-Morning ES Price Action Chart 10-26-2023
Prices gapped down at the 5 PM CST opening last night and left a gap on the chart. Prices attempted to fill that gap but have failed to do so as of this moment. Prices need to trade up to around 4211.00 in order to fill the gap.
Right now, this looks like a range type day, so expect mixed trading. Prices are also well into oversold territory on the daily chart, so a correction is possible at any time. I would expect prices will attempt to fill the gap before the day is over, particularly if this is to be a range day and prices can find the strength to test the highs of today again, but understand, that is not a given at this point in time.
There is a lot of negativity hanging over the market right now, particularly with the short fuse in the middle east. Any kind of escalation over there could send the market plunging even further downward, so trade wisely and be sure you put your safety stops where they go and do not move them or give the market any extra room right now. It will come back to haunt you if you take more risks than necessary. For now, the trend and bias are mixed to downward.
