First look at the daily volume profile from 1 hour chart.
- last Wednesday, ES range from 2343.75 to 2375.25, a P shape profile with a long tail, the most transactions happened from value low to value high [2359, 2375].
- the following Thursday, ES runs a D shape profile range [2345,2361.25], fill the long tail of Wednesday
- Friday ES did almost exact same thing as Thursday
- So in short term support still 2340, Resistance 2360
Next look at the weekly volume profile from 1 hour chart.
- the passing week whole value area still is overlapping with last last week's one.
- close around weekly's VPOC 2354. value area [2345, 2360
- basically this passing week's b shape volume is backing filling last last week's B/P shape volume, nothing really bearish or bullish just from this profile
In summary, ES has already retaken 2340, if not losing it again, the upside movement has higher probability
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