Nov. 22 at 2:15 AM
$ES: The current market context shows a last close at
$64.55, significantly below the 30-day moving average (MA30) of
$72.35 and the 50-day moving average (MA50) of
$71.19, indicating a bearish trend. The RSI at 25.04 suggests that the asset is oversold, which could indicate a potential reversal or bounce. However, the price is still within the recent high-low range, with a 60-day high of
$75.25 and a low of
$62.45.
Directional bias leans bearish due to the price being below key moving averages, but the oversold RSI may provide a short-term buying opportunity. Suggested entry is at
$64.55, with a stop loss at
$62.00 to limit potential losses. Target 1 is set at
$67.00, which is near the recent low, and Target 2 is at
$70.00, approaching the MA50.
Monitor for price action around these levels for confirmation. https://privateprofiteers.com
