Pre-open Wednesday 16th September
There was an early probe down into yesterday’s First Level S/R at 1040.5 (dotted line) which was rejected quickly. Following that test ES auctioned higher for most of the rest of the session, generating a higher, narrower Value Area on increased Volume.
Apart from Monday there have been higher or overlapping/higher Value Areas since 4th September and Monday’s lower open was quickly seized on as opportunity by the Buyers. This is uptrend and as yet unthreatened by any Significant Selling activity.
The 10day poc migrated higher on Tuesday to 1042 and that’s Wednesday’s First Level S/R.
