$ES Gann Analysis with Projections for Coming Weeks

ES1! tested 4500 levels yesterday and got rejected severely after the markets where spooked by FED's hawkish comments on aggressive rate hikes in the near future.

ES1! is in the process of breaking a major confluence of support around 4400 indicating that BEARS are firmly in support and the index futures are headed for a test of it support at 4250 either today or early next week.

A weekly Double Top formed yesterday comparing the week of 31/01/2022 and week of 28/03/2022 tops. ES1! to seek a lower low around the Week of May 17th, 2021 support level at 4050. A support of 4250 is a way point on the way to our target of 4050.

Good Luck!

Comment:

Seems like $ES has tested 4250 support after briefly trading below it. Closing above 4250 by close today could setup the index futures for higher moves starting tomorrow.

Comment:

$ES continues to trade below 4,250 & 4,200 supports this week. Target is now 4,050 which would mark the bottom of the selloff from the double top of the week of 28/03. The index seeks a lower support level than the week of 7/03 lows, from where the rally which culminated in the double top originated.

Comment:

$ES seems to head for a weekly close below the 4,250 support. This points to lower levels with a target of S1, 4,050 support level.