ES held the 1320 Support in the overnight session, and broke out to the upside on the positive NFP/Employment report, testing the 1335.50-1337.50 Resistance Zone, where Responsive Sellers were active on 1st test. Above there, we have Resistance at 1340.25-1342.25 (Open Gap 1340.25) -- Sellers may the cap the upside there. On the downside, we have Initial Support at 1327.25-1329.25, followed by 1322.50-1324.50 and the Bull/Bear Line in Sand at 1320. NFP day sessions usually result in two-side price action, so even though Buyers are in Control, I'm expecting opportunities on both sides (Long and Short). We'll be using 1333.25 as the Micro Bull/Bear Line in Sand off the open to establish short-term directional bias. Overall, Buyers remain in Control and ES is set to open above Value.
5-min Chart with EMiniPlayer.net Support/Resistance Zones
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