Your MUST-READ Morning Stock Futures Cheat Sheet: Range trading
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The Precise Take – Range trading
Big Picture Analysis – Yesterday, after a brief dip below 1340 in the ES, traders again rallied to positive territory, but could not close strong. On the daily combined session chart, the ES has strongly rejected ~1340 support three times now. Resistance looms up to ~1370, but a push above could see a quick pop for another ten handles. Conversely, if support finally breaks, another strong down leg should commence. No major news today, though a speech by Bernanke will be released on the opening bell.
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