Technical analysis update: ES1! (21st June 2021)

Many analysts expect correction to occur in the US stock market over the summer. Because of that we prepared for you interesting setup to watch on ES1!. Last week ES1! broke below its support (yellow line) which is very bearish. Simultaneously, MACD, Stochastics and RSI are all bearish. Though, we would like to watch ES1! for couple more days before coming to any conclusion. Because of that we decided not to set any price target for ES1!.

Disclaimer: This analysis is not intended to encourage buying or selling of any particular securities. Furthermore, it should not serve as basis for taking any trade action by individual investor. Your own due dilligence is highly advised before entering trade.