Mid-Morning ES Price Action Chart 03-09-2022

The trend and overall bias are up this morning, but prices have been mostly sideways since just after the regular session opening. There is strong resistance around 4265.00, which is the former support level on the daily chart. Until prices can push through that resistance, and it then act as support again, the bigger picture bias will remain downward.

Maybe the bulls will push prices higher and find the needed support to go higher again, but they are really struggling to do so thus far. Buyers continue to find stiff selling at the current highs, so do not attempt to buy into that price level, no matter how tempting it might look. Let prices push through and then let them prove that the resistance is going to act as support before buying. In return, I would be careful selling until prices start trending lower again.

For now, the bias is sideways with an upward bias, meeting strong resistance around the 4265.00 price level.