This article provides a focused analysis of the S&P 500 E-mini Futures (ES), highlighting key levels and zones to help traders navigate today’s market. The guidance includes bullish and bearish thresholds, profit-taking targets, and an orientation on the significance of these levels based on recent market behavior.
The S&P 500 E-mini Futures are trading at 5943.5 at the time of this analysis, positioning the price near pivotal levels that will determine market direction. The guidance below outlines the thresholds where bullish or bearish scenarios gain traction, along with associated profit-taking levels. Currently, 5953 is probably a price magnet, very close to yesterday's value area high.
Why Bullish Above 5968?
The price would rise above the VWAP levels of five of the last seven trading days.It would be above yesterday’s Value Area High (VAH).It would clear the Point of Control (POC) from two trading days ago.
Profit-Taking Levels for Long Positions:
5985.50: Just below the VWAP from January 7th.5994.25: Just under the VAH of yesterday and January 3rd.6011: The Value Area Low (VAL) from January 6th.
Bearish Below 5928
If the price drops below 5928, it signals bearish momentum due to the following factors:
The price would break below the Value Area Low (VAL) of the last three trading days.It would also fall below the VWAP from January 2nd, a key support level.If price sustains bearish momentum below 5928, traders may consider these levels for partial or full profit-taking:
5921.50: A nearby level for initial profit-taking.5901.75: Just above the psychological 5900 round number.5879: Just above the VAL from January 2nd.VWAP (Volume Weighted Average Price):
Value Area, VAH, VAL, and Point of Control (POC):
Value Area (VA): Represents the price range where 70% of trading occurred.VAH (Value Area High): The upper limit of the Value Area.VAL (Value Area Low): The lower limit of the Value Area.POC (Point of Control): The price with the highest traded volume.
To learn more about these concepts, visit this guide.
Today’s S&P 500 E-mini Futures trading map highlights key levels for both bullish and bearish scenarios:
Above 5968: Bulls gain control, with targets at 5985.50, 5994.25, and 6011.Below 5928: Bears take charge, targeting 5921.50, 5901.75, and 5879.Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Always trade at your own risk.Visit ForexLive.com for additional views.
This article was written by Itai Levitan at www.forexlive.com. Read More Details
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