Week 5 Review: MES
Week 5 review of the emini S&P500 futures
Calendar week:
- Both monthly and weekly are trying to get to 6186.50
- Dropping down to daily, we have a couple of fair value gaps it can go higher from along with the Friday's low
- With the FOMC funds rate print scheduled on Wednesday, I forecast price may consolidate Monday and Tuesday
- If the print is in line with expectations, we may see price respecting one or both of those FVGs and taking 6186.50
Don’t trade what you believe should be happening, only trade what is happening even if it seems impossible.
— Al Brooks
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Disclaimer
I am not a professional investment adviser and my opinions are based on my own technical analysis. Please consult an investment professional before making investment decisions.
Do your due diligence if or when placing a trade. All ideas stated here are my own and do not represent trading or investment advice.
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