4hs analysis on ES (S&P500 Futures) by ThinkingAntsOk
Main items we can see on the chart:
a) The price has similarly broken a corrective Structure as it happened in the past
b) After the new local highs, we had a confirmation that all the bearish positions have been taken, confirming the new bullish motive wave
c) The next Resistance zone we can see is the all-time high zone
d) We expect a possible correction between current levels and the final target. We will take profit at 3361, and then we will wait to see how the price reacts to the level before opening new positions.
a) The price has similarly broken a corrective Structure as it happened in the past
b) After the new local highs, we had a confirmation that all the bearish positions have been taken, confirming the new bullish motive wave
c) The next Resistance zone we can see is the all-time high zone
d) We expect a possible correction between current levels and the final target. We will take profit at 3361, and then we will wait to see how the price reacts to the level before opening new positions.
