May 23 Emini Update Bouncing Between the Fibonacci Levels

May 23, 2016: 10:15 AM CST

A narrow opening range contains the price movement of the @ES between two key Fibonacci Levels so far.

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

Take a moment to see the broader Fibonacci Grid for reference.

At the moment we’re focusing our attention on the 2,054 level which was Friday’s resistance high.

It could also be today’s high if sellers can keep the price contained within this range.

If so, we’ll focus on a sell-swing down toward 2,042.

However, note the green upside pathway IF buyers succeed and push price beyond 2,054.  If so, we open the market up to 2,063 and possibly the 2,073 levels as future upside targets.

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Corey Rosenbloom, CMT

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1 Comment

One Response to “May 23 Emini Update Bouncing Between the Fibonacci Levels”

  1. Mitchell Says:

    According to the situation, I think this is really good chance to go long, but obviously no one can say with 100% certainty, so that’s why I am careful and keep strong money management, it’s easier to do with help of OctaFX broker since they’re very special with helping us with 50% bonus on deposit and that too with been absolutely use able, so that’s why it’s ever so good and really gives us great boost as far trading goes.