The TradingEdge

[rimshot]

ES 1304.75 was a key level of 60min closes resistance, and became the breakout level

when considering the long-term price structure and horizontal value areas , these thoughts come to mind:

1. 1314 to 1320 value zone is now above the current price, and needs to be recaptured/overcome for any bullish resolution to be later confirmed

2. 1304.75 - prior 60min closes resistance/later breakout level can now serve as a simple bull-bear line in the sand...bears cannot consider this week's decline meaningful as confirmation until 04.75 fails for 60 min closes....1299.50 to 1306/1308 another level of value structure in the long-term price structure

3. 96.25 a prior intraday high level, below which later pullbacks only briefly broke