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E-mini Journal Sprinkled of Gold


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  #11 (permalink)
NTrading
Chicago Illinois USA
 
Posts: 133 since Mar 2017
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NTrading View Post
Looking at the recent multi-day balance area on the daily chart has extended itself to the upside and then pulled back into balance. On the weekly chart, we can expand the balance boundaries to include last weeks extension.

ES is set to open within yesterday's range.

Initial balance range:
resistance zone: 6348.75-6354.50 A break above this zone on high momentum would put buyers back in short-term control. ES would need to break and hold above resistance zones 6368.50-6376ES to confirm this

support zone 6308.75-6315.50 A break and hold below this zone on high momentum ES can easily test smaller zones below. Buyers may try to defend 6260-6264.50. Larger timeframe support is at 6210.75- 6224.25


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  #12 (permalink)
NTrading
Chicago Illinois USA
 
Posts: 133 since Mar 2017
Thanks Given: 4
Thanks Received: 51

ES is set to gap higher.

Yesterday's momentum carried into the overnight session. ES traded higher into KRA 6418-6424.25

Initial support may be found at the 24-hr VWAP / mid. Below that 6384.75-6391.50.
If ES pulls back to the overnight low and fails, this would invalidate the short-term bullish outlook.

To the upside is KRA 6418-6424.25. ES would need to maintain strong momentum to break and hold above this level. 6448.75-6452 and all-time highs at 6459.75-6468.50 are still in reach.


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