We will be using 46.75-48.75 as our bull bear zone, ES must hold below here to once again test 33.5-35.5. If ES can fall below this we may see a liquidation to 24.75-26.75 where i would expect some responsive buying. Below that we have 13.5-15.5.
If ES can pull itself above the B/B zone then bulls will be firmly in control with resistance at 52-54 which we would need a good setup in real time at. Then we have 65.25-67.25 which could see selling. Caution though as above 52-54 Bulls are in firm control and could potentially take this to new highs over the coming days.
First hypothesis would be for ES to retest the bull bear zone on the open. Failure to do so would be a good sign for the bears.
Happy Trading.
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