E ESM0 Yearly VWAP Update On Daily Perspective (SPX)

The E-mini S&P 500 Futures contract trends higher since the market found support around the bracket low with a swing failure pattern. Yesterday the market raised higher to test the daily balance area high for resistance. Looking for any bearish patterns around this level would be a good idea in our opinion. However, the next level of resistance would be the VAH close level from the previous year. We would have another swing failure on the top once the market fails to surge higher and closes inside of the mentioned daily balance area. The developing VWAP and VWAP close level, as well as the mean of the bracket, are possible levels of support or to pullback towards these areas. 


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