long term channel
es is approaching the midline of a long term channel.
the previous times we've ever come close to it, 7\8 times es went below it for a pretty intense bear trap.
if history repeats itself, and we happen to dive below it again, i reckon we could find a temporary bottom at $3550 (38.20% retracement when measuring from the highs to the covid low).
the previous times we've ever come close to it, 7\8 times es went below it for a pretty intense bear trap.
if history repeats itself, and we happen to dive below it again, i reckon we could find a temporary bottom at $3550 (38.20% retracement when measuring from the highs to the covid low).
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