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ESU20 Update

The break from the 3582.00 major Gann square took them through the 3474.00 swing point that is also a major Gann square and down to 23.6% back to the 6/15/20 low, this was 3433.00. Today's close was below the 3474.00 swing point and with a second one, the first target area will be the 3266.00 major Gann square and 23.6% back to the 3/23/20 low, this is 3259.00. The next big level to watch on an extended break is the area of the 200 day moving average at 3088.00, the major Gann square at 3066.00 and 38.2% back to the 3/23/20 low, this is 3052.00, this is also the area that needs to hold for the longer term trend to stay intact. You can use the 3474.00 Gann square as the DSP for the overnight and after hitting 23.6% at 3433.00 getting back above 3474.00 would be a good sign. If they were to close above 38.2% of the break at 3486.00, it should mean the break is done and they go for the highs again and the next major Gann square up at 3690.00. As I mentioned the other day, when the market does turn, it will start to hold the retracements on top, so if they cannot get above 3486.00 it should go for the targets below that are mentioned above.

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