#ES Futures 06.06.22 Overview and Levels to Watch for the Day
Friday we got a close in the middle of our 4143-4077 range, Globex failed to continue lower and break 4103.25-4099.75 level and reach Key Support at 4084.50-4077.25 instead we got a push over our Key Resistance at 4143.75-4137.50. Question today is do we hold above our Key Resistance and get continuation higher or do we come back in? We are currently inside our T+2 Range and inventory is long from Fridays Close, do we see a correction to the inventory or will this move hold and keep going. I am more on the cautious side today but failure to reach lower levels is a sign of strength and if we did clean out all the sellers above then could see a continuation today. On the upside holding above Key Resistance of 4143.75-4137.50 could give us a test of 4168-4162.25 then will be watching if we can reach T+2 high at 4179 if that goes and we get through 4191-4185.50 then we can see our next Key Resistance tested at 4220-4214.75 and maybe levels above but T+2 High area will be the tell if we get there. On the Downside getting back under 4143.75-4137.50 is our first sign of weakness and can give us a test of 4123.75-4119.25, 4103.25-4099.75 and always possible to see a run at T+2 low and key Support area of 4084.50-4077.25. Overall still seeing indecision and market doesn't feel clean for a move out yet but keeping it open and just monitoring for continuation at the levels to see if we accept or not.
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