ES 09212020 Premarket pre
Friday´s session leave us a lot of things to think on it, first of all, we have two range to trade, one is from the high of the session (3357,25) until 3318,5, and the other range is from 3316,75 until 3280,75 ( low of the session).
Something to watch in the first range is the range extension at 3335,25 that is poor and also in halfback, for that reason, this argument tells us that the selling from this point is emotional and price should go back to that point to repair these weak prices.
The second range has a really strong buying tail in the low (3280,75) so the chances to rebound in this area are high adding the previous emotional selling we are seeing in the first range.
We are opening with a 0,5% gap down, what we see is price breaking previous low and holding the 03082020 Gap, at the moment is holding pretty well thanks to the buying tail in the premarket low( 3247,25), for me if this is a pullback in the market , today could appear the low of this pullback.
What i saw in previous RTH session makes me feel bullish for today´s session but the first zone for bears is gonna be 3292 and 3287, for me this is the key level
Something to watch in the first range is the range extension at 3335,25 that is poor and also in halfback, for that reason, this argument tells us that the selling from this point is emotional and price should go back to that point to repair these weak prices.
The second range has a really strong buying tail in the low (3280,75) so the chances to rebound in this area are high adding the previous emotional selling we are seeing in the first range.
We are opening with a 0,5% gap down, what we see is price breaking previous low and holding the 03082020 Gap, at the moment is holding pretty well thanks to the buying tail in the premarket low( 3247,25), for me if this is a pullback in the market , today could appear the low of this pullback.
What i saw in previous RTH session makes me feel bullish for today´s session but the first zone for bears is gonna be 3292 and 3287, for me this is the key level
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