I wrote pre-RTH yesterday ‘There is 13day Support today at 7412.5 and price relative to that level is worth monitoring‘. There was a rejected test of 7412.5 immediately at RTH Open on Wednesday and ES rallied strongly.
This is Buyers Responding just where you’d want them to and positive price action.
Significant Buying (green) was marked for the sixth time since the March low. Significant Selling (red) has not been marked in that period.
The first ST mechanical indication of weakness would now be a RTH close below yesterday’s Buying Day Low at 7399.0 (dashed on chart) – it’s moved higher.
A v. minor Control has emerged at 7478.0 and price relative to that level is worth monitoring today.
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