Like yesterday, ES is now stuck on the 1220 area, strong resistance area on (4H), and stall on (D+). Shorter (1H-) time frames are hovering directionless and may in fact call for some minor retracement to (1H) resilience level (range lows). While higher (D+) time frames are still pushing a little, they may just indicate some congestion on current levels.
TF is actually in the same situation, hesitant to attack the almighty 750 level. There is no willingness to retrace either, but time spent around 735 is reinforcing the (1H) resistance level. A last bout to near 750 is quite possible but its timing is very difficult to predict. As mentioned in previous reports, the bullish congestion on higher (D+) time frames is there, and current hesitancy shows that a (W) double top scenario cannot be discarded.
EURUSD has started its descent (cf Twitter yesterday) and looks relatively bearish still on resilience level (~1.388). It may therefore aim below 1.38 and probably lower (Fib). At this point in time though, (4H) range lows are a reasonable landing target (bearish congestion).
T-Bond fut (@US): bearish congestion picking up a bit of momentum, with still a substantial support potential on 130. Breaking lows would cause reversal on higher (D+) time frames though.
( Posted 7:30 AM UK )
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