The major controlling price at 4396 was effective Resistance earlier in the month. As I’ve been writing, I want to see price above that level before considering new longs. ES remains in a weak position. The Control may migrate lower which could open up more possibilities but that has not yet happened.
The major Value Area Low is at 4140 (dashed line) – time spent in that price area or lower would be a negative and indicate another distribution (down) was developing.
