ESS is showing a classic Rectangle. Don't miss the move.
Sideways movement between parallel supports.
Bearish continuation pattern.
Consolidation. Can break either way.
Bearish continuation if preceding move was down.
ESS is showing interesting structural developments at $247.34. With a last close of $247.34, volatility remains active (1.75%). Algorithmically, a Bearish Flag structure has completed. Volume is average (0.92x avg) with moderate trend strength (0.2). A potential breakout level is identified at $235.91, targeting $208.18 with support near $248.39 (R:R 2.22).
What is your outlook on ESS?