The prior resistance at 1390 ES continues to hold up as support and I remain biased toward buying dips in the short term. This morning, jobless claims came in slightly better than expectations setting a positive tone. The ECB left rates unchanged in its announcement this morning though some selling has entered the market in reaction to comments from ECB's Mario Draghi that there are no plans for further rate cuts. If we see more selling in the early going, it should create a buying opportunity.
Levels to watch today on the ES:
Resistance above at: 1404.50-1405.50, 1411-1412, 1414-1415
Support Below at: 1394.50-1395.50, 1389.50-1390.50, 1385.50-1386.50
Subscribe to:
Post Comments (Atom)
Great buying opportunity now with price around 1392 ES. Low should be in for the day at 1391. If not, that will change my bias to expect further weakness...
ReplyDelete