Crude Oil WTI CLN20 Heading Towards Gap

The CLN20 contract (Continues Back-adjusted) heading towards the open gab once the market broke out of the micro bracket which is visible on the daily perspective. Looking at the hourly periodicity we can observe three areas which market could pullback towards to find potential support. The previous micro bracket's high, the mean of the prior balance area and it's lower extreme. For now we can wait for either a bearish pattern to conclude the pullback scenario or simply waiting for a bullish pattern to continue the trend towards the open gap which should be revsited and filled soon.

E-mini S&P 500 Trending Higher Towards Bracket High (SPX - Plain Analysis)

Yesterday the ES June contract (ESM0) closed as an inside day without testing the high or low of Friday's price range. As the market dips into the high highs we can conclude a possible inside day failure pattern. For this we should look out for absorption patterns on the lower timeframes such as the hourly periodicity. A conclusion would be a pullback to the previous balnaced price range followed by support again. However the market heading towards the next level of possible resistance which would be the prior bracket high. Let's see how the market will evolve around the highs for now.

ES Resistance around Year's VWAP Close Level

ES with a new daily bracket area. The test of the bracekt's low is probable. Hourly with a downside rotation once market found resistance around the previous Year's VWAP with some absorption. Monitoring swing highs and lows for now.

Ask/Bid Difference Bars Study

Adding the Ask/Bid Difference Bars study to the chart to spot absorption patterns. You can learn more about absorption here (members):

https://leprivatebanker.com/education/absorption/">Absorption - The Private Banker
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E-mini S&P 500 At Year's VWAP Close Level (SPX)

E-minin S&P 500 still with resistance around the previous Year's VWAP close level which is confluent with the prior daily balance area low. Hourly rotational, so simply leaning on the extremes for now (swing high/swing low).

The market opened above previous week's valuce close area. As mentioned; hourly perspective with a rotational behavior. Therefore we can lean us on the extremes. Looking for some absorption patterns around the swing levels. Monitoring the VAH close level.

E-Mini S&P 500 Back in Value (Yearly)

Looking at the Yearly perspective of the ES contract we can observe a one-time-framing higher behavior. The market went back into the previous Year’s value close area as well as into the developing value area. Currently we testing a prior balance area low which is confluent with the previous VWAP close level. Additionally it is confluent with the micro bracket’s high (yellow)

Reposted - ES Back in Value (Yearly)

Crude Oil Inventory Increased Around +3.24%

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 15.2 million barrels from the previous week. At 484.4 million barrels, U.S. crude oil inventories are about 2% above the five year average for this time of year. Source: EIA

Looking at the current chart of the Crude Oil Inventory we can see a "trend" higher since some weeks; forming a "double top".