2021.06.24 ESU1 Settlement

Still roll-over, estimated contract volume is about 1M June and 1.7M September for today. The open was just below 4238.25 prior all-time high. Price action printed towards and past settlement price for Friday and rotated down to 4224.00 just 1 tick away from from 05/18 settlement price that had been acting as magnetic rotation zone.

9:35 low 4225.75 and reaction rally to 4223.25 at 10:00 was the perfect trading range to wait for the spring that happened at 1:30. Ideal long entry would have been 1:38PM when price action retuned back into the range above 4223.75 where it tested interest to the downside before the price action rotated back up and then sling shotted up to settlement bar close at 4247.25 to close well above the open and positive for the day.

If the Eurasian session prints new all-time highs, I suspect there will be a violent reaction to the down side below support at 4224.25. If the Eurasian session closes below today’s settlement, point of control, value and range I suspect the price action will slingshot up through 4249.00. If the Eurasian session opens in range and near settlement it will rotate down towards value and if it opens in value maybe it will try to take out the high.