ES_F Next Week's Outlook: Key Support Levels and Potential Rally Scenarios
ES_F - In last Thursday's newsletter, I suggested there was a considerable chance of price movement continuing to decline towards the $4378 area. On Friday, the market echoed this sentiment with an initial rise to test the $4405 level, creating a fake breakout, then dropping to the $4380 region, inching close to the forecasted support zone of $4378. I'd previously noted that if the $4378 zone held firm, we could potentially witness a bounce back leading to a rally towards the $4460 and $4475 areas - a scenario that's still plausible next week.
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