Pre-open Friday 4th September
Thursday’s Value Area overlapped Wednesday’s and there has been no Significant Buying or Selling to mark for two days, both of which were on declining volume. This looks like Sellers Resting – offering an opportunity to the Buyers which they have not yet taken. If Buyers do not respond to opportunity it increases the confidence of the Sellers.
Pre-open ES probed up to 1009.75 and was swiftly auctioned back as low as 1000.
This looks like Sellers in control but Sellers have big poc support at 994.5 to overcome – graphic gives more detail.
