Friday, May 1, 2015

Friday May 1st Levels and Trade Plan


Yesterday ES broke down out of the balance we mentioned and we had the directional day we expected. Therefore today we will be using 87-89 as our bull bear, Bulls will need to hold above here to get ES to the 00.50-02.50 resistance zone where id expect to see sellers step in. Above here we have 11-13 where id also expect sellers to be active.

On the downside we have 81-82 which could provide some support if bulls are prepared to take this back up and we will need a good intraday setup here. Below here Bears are still firmly in control and can take us to 65-67 where id expect buyers to be active, below here we also have 48-50.

Happy Trading.

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