S&P 500 supply absorption pending commitment to the upside

S&P 500 futures gained 0.4% to 3215 during the London session.Supply absorption was observed in yesterday session in H1 timeframe where higher low was formed despite high level of supply.

Check out the video for a complete walk through of the daily market analysis of S&P 500 futures (ES) for 10 Jun 2020 trading session. In this video, I am going to show you the market recap on the last session, plus three trade reviews in the M3 timeframe (including entry, exit and the rationale behind). Going forward, I will cover the bias, the key levels to pay attention to, and the potential setup for the US session later.

I encourage you to watch my daily market analysis video yesterday if you haven’t in order to better relate with the market recap and trade review.

Bias — neutral (Day trading); Up (Swing trading)

Key levels — Resistance: 3300, 3210; Support: 3190, 3181, 3135

Potential setup — look for a test and bounce from the key support levels to long. Or to short near the swing high around 3230 upon rejection.

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Disclaimer: The information in this presentation is solely for educational purpose and should not be taken as investment advice.