Mid-Morning ES Price Action Chart 03-25-2022
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Prices started off range like again today but are now attempting to trade higher out of the range again. We will have to see if the push higher will continue or if prices will fail and turn back into the range again. Should prices go higher, I have two near term targets. Target 1 is a measured leg up and that target is around 4543.50. Target two is a measured move up based on the width of the current range and that target is up around 4557.00.
For now, the trend and bias are slightly up to sideways. We need a bit more price action to print before we will know if prices are going to muster up the strength to push higher. The daily chart is very overbought, so a correction is overdue, so you cannot rule out prices turning lower at any point. Just do not argue with the price action. If it continues to trend higher, stay with it as trends can go on much longer than most realize, and prices can remain overbought or oversold for long periods of time in the right environments.
