Wednesday 01 April 2015 Levels and Trade Plan
Today we will be using 2066.25 as our Bull Bear line in the sand. Below here we have support at 2051.50 - 2049.50 and we would require an intraday setup to buy this area. If we break lower i would expect buyers on first test of the next support zone at 2036.50 - 2034.50 however i would still want to see an intraday setup as this area was tested on 26/03/2015
If we open and break higher we have resistance at 2072.25 - 2070.25 then 2080.50 - 2078.50. Both these areas would require an intraday setup to take a short. Failing that we have 2097.25 - 2095.25 where i would expect sellers on first test and cap the upside.
Es looks like it will open today under yesterdays Value Area Low with a small gap to the downside. If this is the case we may see a continuation downwards so caution is definitely required buying early in the session.