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Scandex Market Update - May 1

Scandinavian Capital Markets

ES reversed back below 2939.75 so I’m treating today’s high as a risk point for shorts. Proposed resistance is 2923/32, which were intraday supports on Tuesday. A proposed downside swing target is 2670ish. This is the median line of the bearish fork from the October 2018 high (was support on 3/10 before the 3/12 breakdown). VWAP from the low is currently 2672.50. This figure will rise slightly each day.

Scandinavian Capital Markets Review

Source: https://scandex.com/2020/05/01/market-update-may-1/
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