Tuesday, August 23, 2016
Tuesday, August 23, 2016 #PreMarket #ES_F Comments by Michael Blythe
Good morning. Buyers broke through resistance area overnight in European session. Now bulls need to convert that to support and march upward to the contract high, then 2200 this week. Bears, best case perhaps is a failure at the contract high that would push the index future today back down below yesterday’s close.
2200 (*) Big Round Target
2197 (**) Weekly Target on Strength
2192 (**) Initial Daily Target / Can Bears Defend Here???
2185 (*) Top of Support Zone Where Bulls Need to Establish Floor
2182 (**) Bottom of Support Zone
2176 (**) Support Bulls Need To Hold For Weekly Bias
2174 (*) Failure Here Targets Last Weeks Low
2165 (**) Last Weeks Low Area
All the best;
Michael Blythe
Futures Strategist
Hamzei Analytics, LLC
Monday, August 22, 2016
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