ES Resistance 1092-4 (by Springheel Jack)

By -

I'm expecting a positive day today, though the gains may well be given
back tomorrow. Looking at ES, I'm seeing resistance for today in the
1092-4 area:


dreadwin pointed out a bearish engulfing candle on $RVX, the volatility
index for the Russell 2000. This adds to my feeling that we have seen a
low now that will last at least until the end of the week:

100817 RVX Daily Bearish Engulfing Candlestick

On EURUSD we have a decent short term rising support trendline with current support near 1.284:


AUDUSD has broken up from the broadening descending wedge of recent days and looks like it may well reach 91 today:


The key resistance level to clear today is at 1084.5 ES. If ES can make
it up past 1090, then 1084.5 may well turn into support for tomorrow.

Mark This Post as a Favorite