Today we will open the RTH session above yesterdays value area setting a bullish context. There is quite a large number of support resistance zones today so it will be important to wait for a good intraday setup before taking a position.
We will be using 93.50-91.50 as the bull bear above here
buyers should be firmly in control especially with an open above value. We have
resistance at 00.25 - 98.25 and 05.25 - 03.25. We would definitely want to see
a solid intraday setup to short these levels given the bullish open. If we can
break below the bull bear we have support at 89-87 and 82.50-80.50. If ES can
break below these supports we may see a liquidation move back into the previous
balance area with the next significant support at 66.50-64.50.
In summary watch today's open and if we open above 91.50 and
trade higher we may see an upward move so caution fading resistance.
Happy trading
Missing your trade plans for thursday and friday, hopefully you'll be back soon
ReplyDelete