Mid-Morning ES Price Action Chart 03-01-2022
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Today appears to be more of the same, with prices swinging up and down within a given price range. Prices did trade up and turn down right at the mid-line of the Envelope Bands on the daily chart, so that could mean prices could turn lower again now. My best guess is that prices will continue to work sideways, attempting to go higher unless some unexpected news item spooks the market and sends it lower again. That does not mean prices will be successful at a higher run either, just that it looks as if prices will continue to “try” and push higher.
The current bias is neutral overall, and prices could eventually trend in either direction. We could actually see prices make a measured move up or down, and it is difficult to know which direction will prevail at the moment, so just stay with the range and expect range type action until the price action shows us otherwise.
