Optiosn
$ES Gann Analysis with Projections for Coming WeeksCME_MINI:ES1! tested 4500 levels yesterday and got rejected severely after the markets where spooked by FED's hawkish comments on aggressive rate hikes in the near future.
CME_MINI:ES1! is in the process of breaking a major confluence of support around 4400 indicating that BEARS are firmly in support and the index futures are headed for a test of it support at 4250 either today or early next week.
A weekly Double Top formed yesterday comparing the week of 31/01/2022 and week of 28/03/2022 tops. CME_MINI:ES1! to seek a lower low around the Week of May 17th, 2021 support level at 4050. A support of 4250 is a way point on the way to our target of 4050.
Good Luck!