ES: Two Downside Long Areas to Watch

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ES: Two Downside Long Areas to WatchE-mini S&P 500 FuturesCME_MINI:ES1!Chart_ChampionsFor today’s ES update, we’re monitoring two key areas below current price for potential long opportunities. First Area – 7,720 The first area sits around 7,720, where we have the previous day’s Value Area Low (pdVAL). There is also a local low sitting just above the level, creating the potential for price to sweep that liquidity before trading into the pVAL. If we see that sequence followed by a strong reaction, we would be interested in a potential scalp long from the area. Second Area – 7,696 If the first level is lost, the next area of interest comes in around 7,696. This area contains: An untested dVAH A previous supply/demand zone flip This would be the next downside area we would monitor for a reaction if price continues lower. As always, these should be treated as rough areas rather than exact prices. There is no automatic trade simply because price reaches either level, we want to see the reaction and confirmation first. For now, 7,720 and 7,696 are the two main ES downside areas on the radar.