I am going to post tomorrows levels on the blog now. as ES is ready for a directional move which may or may not come in tonight globex session. Just thought id get them out early for you guys.
So as mentioned above ES is poised for a directional move out of this 3 day balance area and we are trading at the top of a bigger 10 day balance starting from 25/03. Therefore to give us a short term bias we will be using 73.50-75.50. If ES can stay above here and trade back into 81.50-83.50 then we may see a breakout above this area into the higher targets of 95-97 and 03.25-05.25. I would be cautious shorting these levels if we did break out of this on strong momentum and id look for other confirmations if i was to enter short.
If ES can break below 73.50 i would expect us to test 64-66 which can still attract buyers but again as ES is poised for a directional move we would need a perfect setup here to buy as ES can easily break down below here to the 48.25-50.25 and 35.25-37.25 areas.
Happy Trading.
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