Emini Plays Again at the Highs Nov 18

Nov 18, 2016: 1:00 PM CST

Will it – or won’t it – break through to new highs?  Or will we see a logical pullback?

Here’s today’s updated Emini (@ES) trading levels for your trades:

We have a new Fibonacci Grid for the moment that will remain active IF price does retrace from the high.

Note the build-up of negative momentum and internal divergences which suggest a pullback (retracement) is more likely than an outright breakout.

However, we’re traders and will thus structure our short-term plans to trade the immediate departure from 2,190.

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Corey Rosenbloom, CMT

Afraid to Trade.com

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2 Responses to “Emini Plays Again at the Highs Nov 18”

  1. Intelligent Trend Follower Says:

    Thanks for another market update. Looking at the weekly closing prices, I’m seeing a lot of appealing bullish candles. It will be very interesting to see price action on the follow-through. We could get a squeeze with holiday-shortened low-volume trading this week.

  2. Rizwan Says:

    It will be interesting see if it can push more, but you just got to be very wise with how to go about doing things, it’s not sensible to jump into things just on speculations because things don’t work that way. I believe it’s always fair that we trade on fact and that is most likely to lead us into rewards. I do it with confident under OctaFX broker with their support that comes with their 50% bonus on deposit scheme, it’s fascinating!