Morning,
We will be using 48-50 as out bull bear zone today. ES balanced yesterday andso could stay within the balance today. Above 50 ES can see 64-66 where id expect to see sellers on first test. If ES can break above here then this is a key sign that bulls are taking back some control and we could see 81.75-83.75 which could cap the upside.
Below 48 ES can test 34.75-36.75 again, however we would need a good long intraday setup on balance day internals to get long here as below 48 Bears are in control in this still bearish overall environment. Below 34.75 ES can test 21.5-19.5 however this must be on weak internals as ES can fail the breakout below and come back into balance.
Happy Trading.
No comments:
Post a Comment