Thursday Prep

Yesterday pushed higher into the longer time frame resistance zone (40.50-42.50) and left a P shaped profile and poor high which increases the likelihood of continuation higher unless we see acceptance below yesterday's open (2136.50).

Overnight so far the range is 2136.25-2144.50 ahead of the ECB announcement. I would expect to see either a false breakout and reversal lower or a breakout up towards the next CHVN at 2152.75.

Having pushed through yesterday's RTH high overnight, the initial battle zones for either side I see as 36.25-38.50 for longs and 42.50-44.50 for shorts. Breaking and holding below/above these zones could see a directional move either way.