Mack’s Mid-Morning ES Price Action Chart 03-12-2024

Prices have been rallying for the past 45 minutes, but it is possible this could end up as a range day. Prices are testing the overnight highs as I am typing, so we will have to see if prices find resistance and turn down, or if they continue to trend higher. This market just keeps climbing, so new highs are not out of the question. Just respect the overnight highs until prices prove they are no longer holding.

For now, this looks like it could be a large range with mixed trading, but the rally off the overnight lows was strong, so anything is possible. The short-term trend and bias are up, but that could change if this is going to be a range day. Think accordingly and allow prices to prove what they are doing first and foremost.

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