Friday, July 10, 2009

Market Update - Jul 10th '09

ES is sitting on 875 now from where it could try and bounce. However while this key level is obviously quite strong, higher time frames still point towards drifting lower to the bottom of the trading range (859, then 840 on the weekly chart). As always, let's wait for the level to be broken first.

As mentioned yesterday, TF should also aim lower towards the bottom of the trading range in the 460s.

( posted 6:45 AM UK )