$ES Faces a Critical Test at Daily FVG Resistance
If I had to watch ONE thing right now, it would be this Daily FVG on $E-mini S&P 500 - main 2612(ESmain)$ .
Price has formed an ABC move lower, with A = C, right at monthly FVG support.
Here's what matters:
📈 Bullish Scenario
A daily close above this gap would trigger a bullish iFVG and reclaim the 200-day moving average.
If that happens, I'd lean toward the view that the market bottom is in.
⚠️ Bearish Scenario
If price fails to close above the gap, it could continue acting as resistance and keep the market under pressure.
This breakout may not happen immediately. But when it does, I want to be ready.
This is the key level I'm watching for confirmation of a potential market bottom.
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