Prices are rallying this morning, and there is a spike and channel up that is still in play with no breaks yet. Note that the daily chart is not showing new highs, but prices are making higher swing lows on every correction, which could mean prices are going to go higher soon.
Nothing is ever written in stone when it comes to trading, so make sure you understand that anything can still happen, but it does appear that prices want to push higher in the near term. Watch the resistance on the daily chart, as the price level around 6606.00 (correction – 6106.00 is correct price level) has been strong. If prices break above that level and hold, we will likely see higher prices soon. If that resistance level holds, prices could turn lower again. 6606.00 is the key for now in my opinion.
As of now, I would call the day bullish, so stay with the trend until the price action shows us otherwise. Never lose sight of the importance of using your micro-trendlines and micro-ranges, as those patterns will help keep you on the right side of the market. Use them!
the man the myth the legend!
I think you made a typo with 6606.00… don’t think the ES has ever hit that level lol