S&P 500 futures pending supply, intraday trading is still the plan

S&P 500 futures (ES)slide more than 1% in the Asia session after OPEC plus reached a deal in record oil production cut of 9.7 million barrels per day.

On the hourly timeframe, S&P 500 futures dropped sharply at the opening candle to below the support level at 2750. Subsequently it is forming an apex formation during London session, suggests indecisiveness among the participants.

Just 2 hours before the opening of the US markets, ES broke out from the apex formation and currently testing the…