posted 09.28 a.m. EST
pre-open analysis Thursday 26th March
>>Sellers may well respond again at 830 or just above should we reach that level this week. If that is going to happen I would expect Tuesday’s poc around 810 to limit the downside beforehand. Buyers are still in control of the dayframe.<<
pre-open analysis Friday 27th March
Thursday day session low was 811 and the high was 830.5 which fits well with the analysis.
As I have said previously 830 or just above is where ES may find resistance and one scenario is a setback here with sellers responding very obviously.
However, green at the top indicates aggressive buying and it is unusual to see an up auction with green (aggressive buying) at the high. Usually these get tested and the odds suggest that Thursday’s high will be tested.
If sellers did decide to respond strongly we’d likely see it happen early in the session and then ES below 818 support and struggling to print back above it.
But, until I see evidence of significant selling I assume buyers are still in control.
