ES H1: Last Week's Low Already BrokeE-mini S&P 500 FuturesCME_MINI_DL:ES1!ProjectSyndicate⚡ ES H1: Last Week's Low Already Broke — the 7,397 Retest Decides 7,563 or 7,335 ▪️ ES H1 SNAPSHOT — EXECUTIVE SUMMARY ▪️ The S&P 500 is at 7,397.75, back underneath a weekly low it has already lost. The prior week's low at 7,412 graded just 4.6/10 Weak — and weak levels break. It was accepted through, price extended to the downside, and this is the retest from below. ▪️ Primary outlook is bearish-while-below 7,412. That broken shelf is now overhead supply, not support. This is the cleanest structural read on the desk this week. ▪️ Overhead: 7,412 caps it first, then the golden pocket at 7,500–7,490, with 7,563 at 7.5/10 Strong as the level that actually matters. Above there sit two untouched weekly highs at 7,632 and 7,649. ▪️ Immediate pivot: 7,397 — the stop-run band price is resting on right now. Holding it keeps the retest alive; losing it resumes the move. ▪️ Downside objectives: 7,355 on a confirmed close, then 7,335 as the measured range-extension target. ▪️ Liquidity note: the weekly opening gap has already filled at 7,470, so there is no unfinished business overhead until 7,632. ▪️ Bullish scenario: reclaim 7,412 and close back above it, and the broken low flips back to support — that opens 7,490 and then 7,563. ▪️ KEY LEVELS RESISTANCEs ▪️ 7,649 / 7,632 — Virgin PWH · never tagged ▪️ 7,620 — Acceptance Level ▪️ 7,579 — Sweep Trap Level ▪️ 7,563 — PWH ★★★ 7.5 Strong · Intact ▪️ 7,500–7,490 — Golden Pocket / Equilibrium 50% ▪️ 7,412 — ★ 4.6 Weak · Accepted → flipped overhead ▪️ Current Price: 7,397.75 SUPPORTs ▪️ 7,397 — Sweep Trap Level ▪️ 7,355 — Acceptance Level ▪️ 7,335 — Range Extension Target ▪️ ProjectSyndicate Levels Desk — Overview of key weekly zones for ES, XAUUSD, EURUSD, BTC & XAGUSD traders every week. Subscribe to stay up to date with the latest levels. ▪️ Get the same weekly levels plotted on your own chart with the free TradingView indicator ▪️