ES approaches major resistance area following previous support, James Stanley notes

ES approaches major resistance area following previous support, James Stanley notes
ES futures near resistance after range

E-mini S&P 500 futures (ES) are approaching a significant resistance zone that previously acted as resistance on Friday and support two weeks ago. James Stanley, a senior strategist at DailyFX, described recent short-term trading as remaining within a range, with downside moves feeling sharper even as the market grinds higher.

James Stanley has recently commented on consolidation patterns in other asset classes. In a recent note, he said gold remains in consolidation, with sellers evident near $4200 and a break above $4235 needed to trigger further action here. Earlier, Stanley highlighted gold's rebound from support, with key attention on 4200 and a possible move to 4235 for the weekly close here.

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