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ES and Oil Breakout, or Bull Trap?

Discussion in 'Technical Analysis' started by FXStreet_Team, Feb 29, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    After the first hour of trading, both ES (Emini S&P 500) and Oil have relinquished their early session gains into new, recovery-high territory, which increases the likelihood that the most recent upmove off of the Feb 24 lows represents the conclusion of the Feb advance, rather than the breakout and lift-off from a significant bottom. That said, this day is very young yet. Nonetheless, so far, it appears that today is not a One Way Friday, which, if nothing else, should give ES and Crude

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