#ES Futures 5.31.22 Overview
Friday we opened up right in the Key Resistance area of 4084.50-4077.25 and got continuation of short covering through out the day and were able to break into our next range and over next resistance of 4143.75-4137.50, Sunday night Monday morning we count as one Globex session in which we pushed the price higher but were not able to reach next resistance area and last night we started seeing that inventory come out. Question today is how much of Fridays move will we take back and will see continuation higher once we work out the inventory from Globex. Currently we are hanging out below our Key Resistance of 4143.75-4137.50 but not selling off so product is being absorbed, if we cant get back over the resistance then we can see a test of 4110 and if we get enough selling we have our T+2 high and Key Support at 4084.50-4077.25. If we fail to accept in this range and RTH we get back over the Key Resistance then will be looking for another run to test next Resistance at 4220-4214.75.
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