ES review & plan
ESZ15
December charts & levels going forward - ESZ15
Yesterday's action was concentrated in the lower breakdown area from the previous day, failing to regain much ground for longs but also failing to breakdown any further to close the open gap below.
Overnight has seen balanced trade with a range of 1927.50-49.25, within yesterday's RTH range. Balance area trading rules apply for today, as per Jim Dalton, assuming we open within yesterday's balance. Yesterday's overnight high (1957.75) remains a big hurdle for longs if there is a break from balance. A break from balance to the downside puts the open gap and naked VPOC/POC from 09/04 as a target (1912.50/09.75).