On the way to 40s area, there is also substantial resistance around 2020.
It includes two sublevels: 22-24 and 13-14, below which ES finished Friday.
MA
MarcinO
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Over 200 pips today. That should be enough especially after second test of 1.4430 weekly TF price flow.
MA
MarcinO
Rep: 67
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Pound is rising like crazy. 1.4490 area is where it can stop for some time.
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jimkane
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I wasn't joking even one tiny little bit when I gave those pound levels yesterday...
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jimkane
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Or when I said they are going to weaken the dollar substantially i.e. kick the sh#% out of it, again.
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jimkane
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Or when I said awhile back, and reiterated yesterday, I think crude is going straight to 48, almost doubling it off the low.
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jimkane
Rep: 3,058
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Anyway, the ES hit 37.25 in the overnight, our much discussed 35-40, where it checked back. I do not think this area will stop it. Until something changes my working assumption is it is more likely than not headed to new all-time highs. Understand, I could change that view in less than a nanosecond if I get any hint any price action is not consistent with that viewpoint. And there will be checkbacks along the way. It is very, very stretched right now.



