ES price action analysis for 1 Apr 2020 trading plan
- 31 Mar 2020 recap - After tested the last hour bar from 30 Mar 2020, ES rallied up but failed to overcome the resistance formed by the swing high. Last hour supply spike is the greatest since the bottom was formed on 23 Mar 2020. Possible start of a reaction.
- Bias - swing down to test 2500, 2450.
- Potential intraday setup - Either direction can be traded. Watch out how the price interacts with the key levels and smaller structures to trade the reversal.
- Key levels - Resistance: 2550, 2600. Support: 2500, 2450.
- Note: Failure to defend the level 2450 should attract more supply to push the price down to test 2400 and/or the low formed on 23 Mar 2020. Bullish case will still be valid should ES stay above the level 2450.
Find Out the Top 3 Unknown Stocks Ready to Soar: Click my website below
