$ES_F 2.03.22 Overview and Levels to watch
Our globex inventory is 100% short, yesterday end of day move wiped out all the buying we had in RTH and trapped supply over 4550 so what can we expect from it today? Its a lower volume week with sellers above 4590 and buyers below 4520 which is why we are getting this chop order from that takes everyone's money, have to be patient to trade this. On the down side we have 4524.25-4519 as our PM support and holding below it would be our first signs of weakness, we have 4508.75-4505.50 as KEY intraday support if broken can see 4497.25-4494.75, 4490-4487.25 and if enough supply can test 4479.75-4475, all those areas might have responsive buyers when we hit them as we have people short who cover when we come down. On the upside if we continue to hold over PM support we have 4536.75-4532.50 as PM resistance and 4551.25-4548.75 as our KEY resistance that need to be broken if we want to see 4570-4562.50, 4589.50-4584.75 and 4603-4598.75. It might be a small range low volume day so have to manage your expectations.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.