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Sep E-minis (ESU0) Will Break Hard Overnight!!

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Sep E-minis ESU0 Will Break Hard Overnight!!

The Sep Emini futures (ESU0) has found support at 1034 the 75% retrace level of the current up move. The contract has already tapped this level twice and turned higher. Will the third time be the charm?

Watch as ESU0 should break below this level some time during the next trading session and continue lower as the contract does not have any reason to sustain a rally at this point in time.

Another bearish factor to consider. The Sep emini contract will expire soon and the longs will roll their Sep positions by selling Sep and buying Dec, fueling a sell off in the Sep market.

Posted-In: Futures Topics Pre-Market Outlook

 

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