We’re not looking to strong in the S&P globex session, starting with the rock solid resistance overnight at 1630. It held on a series of three lower highs overnight and resulted in a snap of the 1625 level, if only temporarily. Both of these levels are important today.
I zoomed back on the balance zone from about 1631 – 1622 to get some lower levels to watch in case we see a liquidation occur.
The next levels of potential support are 1618.50 a significant low and then 1616. Finally I see 1614 on my radar as possible.
I will use the following market profile chart to define upside resistance. Note: I’ve split yesterday’s session essentially in half, where the conditions changed:
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