Monday, February 24, 2020

ES Intra-day VWAP Market Update

The market opened with a gap down and trends lower in a rotational behavior with a downside slope. We can identify a distribution in the lower area of today's ETH price range in which the market trades between the extremes. In the middle of this particular distribution we can observe a LVN area which support or resistance based on the above/below location of the price. We can expect resistance around the VWAP and the DVAH as well as possible support at the DVAL now. Monitoring for any pattern to conclude a trading scenario.