Here is a five minute bar chart of the last two e-mini day sessions. My range estimate for today is 800-825 (blue rectangle). I think the midpoint of yesterday's range (dotted purple line) near 826 will be resistance above the market. A rally from this morning's low of 812.25 which matches the size of yesterday's afternoon rally would carry to 827 (purple rectangles). So I think that the 825-27 range will be the ceiling on today's market action. Assuming it holds I think that the reaction will resume and carry the e-minis down to 803.
No comments:
Post a Comment