Thursday, January 8, 2015

January 8th Levels and Trade Plan for ES

Morning guys.

Today we will be using 31.75-33.75 as a Bull/Bear zone to determine short term bias. If Buyers can hold above here then we should retest the ONH's and go into 41.5-43.5. We would need to see a good set up in real time here. Due to the fact that ES has broken out of the short term balance area. Above here we have resistance at 47.5-79.5 and then above here ES could rally to 65.50-67.50 which i would expect to cap buying on the day time frame.

Below the bull bear zone we have support at 22.50-24.50, where id expect buyers on first test. Then we have 17-19 where id also expect to see buyers. If we break that sellers are really in control down to 93.75-95.75. Although i expect to see buying from support today.

Happy Trading.

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