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ES exhibits a Positive Divergence with Oil, But Will It Last?


The big question now is whether or not the positive divergence between ES (Emini S&P 500) and Oil will remain intact?

Can ES withstand the downward pressure of oil for the rest of the session?

ES has carved out a sideways range between 1825/22 on the low side and 1855/57 on the high side.

Whichever side of the range is violated and sustained should trigger a 20-25 point move in the direction of the breakout.

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