News: No news release today
Trade plan and Price action analysis: (Price action) Last week Es mostly saw range bound trade. The NFP gave the market a big down day in the premarket release and the day session balanced with buyers in control closing the market on the highs. On the daily chart we could see a little bit of a PB to find more buyers. Globex session has traded lower showing that the sellers are getting more active.
(Trade plan) Sellers have started stepping in to the market in the overnight session but we are still inside the recent balance area that has formed at these highs. With no news release the expectation today is for a balanced session with buyers and sellers active at the S/R levels. The sellers want to see the market below the 1328-1330 level to remain in control. Im looking at this little bit of selling as a PB in the bigger move up and expect buyers to be active at each support area below. 1305 is the 50% retrace of the big move up and i expect buyers active there as well.
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