I wrote yesterday that ‘Today, price relative to 6866.5 is worth monitoring‘. That level was briefly tested early in the session but rejected. I also wrote ‘I won’t look at new longs currently below the Control‘ (6853). Yesterday’s Value Area was generated entirely below that level. The Control was tested very briefly overnight and rejected (see 2nd chart).
read this post on Substack
ES declined from there and has today tested the 6mn VAL (dashed) as it did on Tuesday. The more time spent around this level, the more likely we go lower – Bulls would hope for another bounce here.
