Mid-Morning ES Price Action Chart 03-17-2022

This has the look and feel of a range day so far. Prices have met stiff resistance around 4365.00, which happens to be the top of the range on the daily chart. That could mean prices move sideways and range a bit as they continue to test the highs, or it could be indicating a toping action that could soon send prices trending lower again.

It is hard to say at this point, so we will need to watch a bit more price action print to the chart before we will know for certain. Just be very careful getting long into the highs right now, as you do not want to get trapped long at the highs in this kind of volatility. The bias is mostly neutral, but here is a slight upward trend that could become much stronger if prices could manage to succeed in pushing through the resistance just above.

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