$ES #five wave up rally #trending move up #breakout
We have been watching that bullish path for weeks. This week bulls finally have made a move and push ES over resistance of the declining red trendline. That was the first confirmation that a new leg up has started.

ES-mini 120 min chart
Now we are watching the fresh monthly levels:

The key resistance is 6,991.50, a new Monthly Resistance for Jan 2026.
Bulls need to close a day over that level to turn the intramonth trend up.
You can see the Monthly R1 level = 7,116.
It coincides with the Fib level on my 120 min chart = 7,118.
That is the target #1 for the move up.