Thursday, March 5, 2020

Daily VWAP Update on ES

The market opened above value but were trending lower with downside slope of the VWAP. We found support at the previous day's VAL close level followed by a pullback to the DVAH with resistance. Currently still in a bearish mode. Monitoring the developoing VWAP levels for any pattern of resistance. The market could close as a double inside day - the probability to take out both high/low extremes in the next days is higher in such a particular case.

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