Mack’s Mid-Morning ES Price Action Chart 07-02-2024
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Prices have been moving higher since around 7 AM CST this morning. There is strong resistance around 5535.00 to 5538.00, so prices will need to successfully push above those levels if they are to continue trending higher. This could end up as a range day if prices cannot successfully breach that strong resistance level. I would expect some mixed trading no matter how the day plays out overall, and a range day is very possible.
Right now, the trend and bias are still mildly up, but that could be changing if prices turn lower again at the overnight highs. Be careful getting long at these highs and into the strong resistance I noted in the above paragraph. Let prices prove they are going higher before you jump in long. For now, the trend and bias are still up, but that could be changing as I am typing up this report.
