ES Declining Channel and Trading Ranges (by Springheel Jack)

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(Editor's Note: Umm, not sure if my computer is cursed, but I'm not able to see any comments, even though I see they are accumulating somehow; sorry for the lack of NEW POSTs today…….)

Everyone trading ES at the moment should have a look at this chart IMO:

100624 ES 60min Declining Channel and Ranges

I'm expecting that we may well see a rise on ES to range and channel resistance at 1084ish this afternoon. That will look like a solid short, and it that resistance is broken, it will then look like a solid long for a good bounce to at least 1101.5.

As an aside, among the strange things you very rarely see are a strong rising channel on EURUSD at the same time as a strong declining channel on ES, but it seems that pigs are growing wings today. This could be positive divergence, maybe, but I wouldn't put much faith in it after the bearish technical carnage this morning:

100624 EURUSD 60min Rising Channel