From today’s pre-RTH note ‘More time spent at 6956 on Friday – elevating its status to 6mn Control… Price relative to this level is very important to monitor. ‘
See 5minute chart below. At Open there was an immediate rejected test (less than an minute) of the Control at 6956. ES then rallied strongly. That’s a positive and a statement from the Buyers – 6956 is now a proven level and price printing time back below that Support in the near term would be disruptive for the Bull case and suggest further downside.
