$ES #ES #trading setup #toppying
We keep waiting for ES-mini futures to roll over:
4,757 – 4,738 is the crucial support because if bears fail to break under that level we will get a re-accumulation pattern based on the Inverse Head and Shoulders:
Note three successive higher highs and the sharp drop after the second top (distinctive features of this re-accumulation pattern):
If bears manage to break under 4,757 – 4,737 Fat Demand Zone bear swill be able to drive ES-mini down to 4,500.
If bulls defend the green 4,757 – 4,737 Fat Demand Zone in Jan’24 we will get another push higher to 4,950 and only then a larger pullback into April – June 2024 (see the blue path shown on the first chart above).