SP 500's up wave to test the prior swing high [Video]

Ming Jong Tey Independent Analyst

SP 500 futures tested the last hour bar during the London session yesterday and subsequently successfully trend higher and hit the psychological level 3100.

Check out the video for a complete walk through of the daily market analysis of S&P 500 futures (ES) for 01 Jul 2020 trading session. In this video, I am going to show you the market recap on the last session, plus a trade review 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, 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 to the market recap and the trade review.

Bias — bullish (Day trading); bullish(long term)

Key levels — Resistance: 3140–3160, 3100; Support: 3050, 3000, 2925

Potential setup — Look for a test of the last hour bar (3065–3073) from yesterday to long on reversal.

Author

Ming Jong Tey

Independent Analyst

Ming Jong Tey has been trading since 2008. He started his learning journey from technical analysis (indicators, Fibonacci, etc...) to value investing. Throughout his journey, he develops an interest in price action with chart pattern trading.

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