Current situation:
4396 is the major controlling price and ES remains in a weak position below that price.
Possible development:
If more time is spent in the shaded area around 4340 then the controlling price could potentially fall, e.g. if 4345 became attractive the c/p could migrate lower to that price. That would be an important development in my view.
Positive scenario: Price rallies to a stronger position above 4396.
Negative scenario: Price cannot recover above 4396 (currently Resistance).
Positive scenario: c/p migrates lower, price subsequently holds it as Support and rallies.
Most Negative scenario: c/p migrates lower and price quickly falls.
