ES testing critical support area

12 apr 2020

ES is now currently testing price that was previous support way back in May 2019. This is a critical area I would think. If price was to break down through here, I would expect it to retest the resistance/support achieved last week around 2635. Alternatively, price can find support here at around 2730 and continue upwards. As of today's open, we can see a bearish candle that so far has found support. Where it goes from here is anyone's guess but I am prepared either way. If it breaks down, I would like to see a solid close lower below the 2730 support level and I would be placing a short order at 2730 if price can hold below there for a 2 to 3 hours with a target at 2635. If price does find support here at 2730, I would wait for a solid close on the hourly chart and if price can hold for 2 to 3 hours above the 2730 level, then I would be placing a buy order at 2730