ES August 29th
From my perspective, the ES has attempted to rally for the entire month of August, but every time the rally is weaker than the previous one.
That has resulted in a triangle formation that should be resolving pretty soon.
Based on this analysis, I forecast that the ES will be coming down soon… perhaps today. If so, the critical resistance or invalidation point will be at 2940.
… and the target below 2780. A pretty huge risk/reward ratio.
I have drawn a blue rectangle where I believe the ES wil be finding strong resistance today.
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