/ES : Bullish with Weekly kumo resistance

/ES - Ichimoku Bullish breakout

/ES hit a low of 1927 pre-US trading hours on Tuesday.

By US open, it has rally and consolidated at the 1940 range. Breaking out of the Chikou Span resistance on the Ichimoku 5 minute chart is sufficient for me to go long on /ES

Ichimoku Weekly Chart - kumo resistance

While the long position is established, bear in mind the resistance on the Ichimoku Weekly Chart at 1976.


/ES : Kumo resistance – bull-bear tug of war at 1962

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With the recent rally from 1802, /ES has formed a ‘double bottom’ and a ‘W’ formation has confirmed a possible rally.

As it enter the 1962 region, the thick kumo resistance signifies possible heavy resistance and we may see /ES going into a trading range from 1962 to 1932.



/ES : Kumo resistance at 1949

/ES kumo resistance

/ES rally may face kumo resistance is expected at 1949.

Immediate resistance at Chikou span at 1939.