ES continued to have a minor pullback in the early sessions, but quickly found its support above the 2195 level. At the end, it managed to close above 2200, which should be considered as a consolidation move.
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2203.50-01.50 will be today’s key zone. A stay above it could lead ES to attempt filling the 2211.75 gap. A move below it could go down to retest yesterday’s low area 2196.25 or lower to 2190.50-87.75 area.
Because today is last day of November, the price needs to close above 2200 level to avoid giving a bearish ultra-short-term outlook.
Daily PMO and Slow STO indicators all are overbought. That means ES won’t go up too far away from the 2208 level if there is a rally today.
Support and resistance
Major support levels: 2190.50-93, 2183-81, 2172-74, 2165-62.50
Major resistance levels: 2212-10.50, 2220.50-26, 2235.50-37.50, 2245-48
Short-term —- Bullish
Medium term —–Bullish
Long term —- Bullish