The break from the long term swing point of 2930.00 was interrupted by...


5/13/20

One thing to watch for on the current break is they hold, or trade below the 2782.00 major Gann square and then close well above it, if this happens look for a retest of the 2930.00 long term swing point and possibly even up to the 200 day average at 2997.00.  

They did exactly this on last Thursday and are now back at the long term swing point of 2930.00. This remains the long term swing point and a break from this area brings back all the downside longer term targets mentioned in the previous email. With a solid close above 2930.00 the long term target becomes 3130.00. You will have to watch how they trade up at the 200 day average at 2996.00. Hitting the 200 day, or trading above it and then closing below the previous high of 2965.00 would be a negative sign and if this is followed by a close back below 2930.00 look for a sharp break to follow. Provided this did happen I will update targets on the downside.

ESM20 Daily