Mid-Morning ES Price Action Chart 03-29-2022
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Prices rallied during the overnight session leaving a large gap on the daily chart. The target to fill that gap is down around 4572.50. It looked as if prices were going to fill that gap quickly, but there is a bit of a small rally going on as I am typing this up. That does not mean prices will not attempt to fill the gap still, so keep that target in the back of your mind should prices start trending lower again.
For now, the trend and bias are still up slightly, and we have had two legs of correction to the downside. Should that two-legged correction be the center of an upward pattern, a second leg up would give us a target of 4639.00. I am not convinced that prices will not attempt to fill the gap just yet but let the price action show you and act accordingly. As of this writing, the trend is up, even if only a temporary correction before prices push lower again.
