Wednesday Prep
Yesterday's initial move lower into the 29-31 zone found support from buyers and the rally then struggled to hold above the 37-37.75 zone (Friday's pullback high to open) which then saw a drop back to initial support into the close.
Overnight the range is currently 2126.50-35.50. The vpoc of the current balance is 2130.50, which bulls will want to maintain control above. The 40.50-42.50 remains key resistance and a move and hold above that zone could lead to a short covering rally back up to the prior balance vpoc at 52.75.
Initial support zone at 29-30.50 and holding below there puts sellers in control with initial target at yesterday's overnight low at 2120.25
The 4hr chart with custom profiles shows areas of balance below:
Zones for today below: