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The E-mini S&P 500 futures (ES_F) have experienced a notable decline, losing the key support level of 5720 on Friday, which has allowed bearish trends to take control. Following this loss, the futures are down 150 points, with the next support levels identified at 5565 and 5545. Analysts suggest that a recovery above 5585 is necessary for bulls to regain momentum towards 5620. The settlement price on Friday was 5625, while the close was at 5602.50, indicating a significant gap down at the market's opening. Current trading is focused on filling the gap created by this decline, with 5515 identified as the next support level if 5545 fails to hold.
#ES_F Playing the gap fill game. #daytrading https://t.co/0gYuQqMhhS https://t.co/GIRZCzgLCq
After relentless selling since Friday morning, #ES_F starting on its 1st base. Lvls respecting well. As posed, 5565 reclaim would rally to 5581 & we rallied to 5581 exact and dipped. 5565 is a magnet now. No change: Bulls must recover 5581 now to see 5620+. 5545, 5515 supports https://t.co/rppPsEo7kn
There's 5545 next down tagged in #ES_F. As warned, since the loss of 5720 bears have been firmly in control and ES is set to sell by default until it puts in a major recovery of a prior resistance (will need a headline). 5515 next down from here, 5565 reclaim to rally to 5581+ https://t.co/QtOTqgDQUl
