The uptrend remains intact with price trading firmly above both the 50-day and 200-day moving averages.
After a brief pullback last week, ES has posted three consecutive green candles, telling us the bulls are still in control.
The recent low around 6,290 is forming a higher low, which is strengthening the bull case even further.
Momentum & RSI
RSI has recovered to 59.02, bouncing from just above 50.
This momentum reset during the pullback helps cool prior overbought conditions and gives more strength for a move higher after that.
Key Technical Levels
Level
Type
Significance
6,450–6,460
Resistance
All-time highs zone
6,290–6,300
Support
Recent low and short-term demand zone
6,201
50MA
Strong trend support
5,940
200MA
Long-term trend floor
Probability Table
Scenario
Estimated Probability
Reason
Breakout above ATH (6,460+) this week
40%
Momentum building but needs catalyst
Consolidation between 6,300–6,450 continues
45%
Sideways consolidation after sharp move
Breakdown below 6,290 → retest of 50DMA (~6,200)
15%
Less likely unless macro shocks hit
Trade Setups
Bullish Setup
Entry: Close above 6,400
Target: 6,500+ (psychological and extension level)
Stop: Below 6,290 (last swing low)
Bearish Setup
Entry: Rejection at 6,450 followed by red candle below 6,300
Target: 6,201 (50MA)
Stop: Above 6,450
Ending Off
ES is recovering from a small dip which gave a small buying opportunity to traders. All US indices are rallying at this time and the dip was likely because of the recent recovery in the Dollar. Bulls remain in control and probabilities are pointing toward a move above all time highs once more.
Introduction Nasdaq-100 futures (NQ) are stabilizing after bouncing from a multi-week low near 24,300 earlier in November. The index has now reclaimed the 25,000 level and is trading just beneath a major resistance band that has capped every rally since late October. From here, bears could try to push the price back to the level Read More…
Introduction Gold futures (GC) continue to push higher during the crisis in the Middle East as market participants scramble for safe havens. The yellow metal has been an outperformer this year as well as last, and there seems to be no signs of it stopping. Traders who have been looking to buy the dips have Read More…
Introduction The S&P 500 continues to push higher after reclaiming the previous all-time high near 7,100, and the strength of this rally is becoming difficult to ignore. The narrative of being careful because of the developments in the Middle East is starting to fade because the market is just moving up relentlessly. What started as Read More…
