S&P 100 Futures (ES1!) H1 | Falling to Overlap Support
S&P 100 Futures (ES1!) H1 | Falling to Overlap Support
Type:
Bullish Bounce
Key Levels:
Resistance: 6,142.50
Pivot: 6,069.00
Support: 6,022.00
Preferred Case:
Looking at the H1 chart, the price is falling towards an overlap support where it could stabilize before reversing to bounce higher toward the 1st Resistance at 6,142.50.
Alternative Scenario:
Price may break below the Pivot at 6,069.00 and fall towards the 1st Support at 6,022.00.
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Desmond Leong runs an award-winning research firm (The Technical Analyst finalists 2018/19/20 for Best FX and Equity Research) advising banks, brokers and hedge funds. Backed by a team of CFA, CMT, CFTe accredited traders, he takes on the market daily using a combination of technical and fundamental analysis.