Mack’s Mid-Morning ES Price Action Chart 09-03-2024

Prices are trending lower this morning, but I do see a break and new low in place at this point. Prices may attempt to form a new channel and continue pushing lower, but we will have to wait for more price-action before knowing. For now, the trend and bias are down.

The daily chart continues to look sideways, so prices may continue to consolidate a bit after the large rally we recently witnessed. Note that there is a large gap on the daily chart, and prices could attempt to fill that gap at some point. That target is up at 5656.50.

For now, prices are still bearish and trending lower.

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