ES Downside Levels | Previous ATH First, Single Prints BelowE-mini S&P 500 FuturesCME_MINI:ES1!Chart_ChampionsFollowing on from our previous ES update, we now have two clear areas of interest mapped below current price. The first level is the previous all-time high. This is an important S/D flip area — supply previously entered the market from this level, so on a back-test we’ll be watching to see whether it can now act as demand. Should ES trade back into the previous ATH, we’ll be looking for a lower-timeframe reaction and potential scalp opportunity. If this level is lost, attention then shifts towards the larger support zone below, where we have several pieces of confluence: Previous month’s Value Area High Multiple Single Prints available to fill Previous all-time-high S/D structure As always, these levels provide the location, price action provides the trade.