Two possible movements on ES ( S&P500 Futures) E-MINI S&P 500 FUTURES (CONTINUOUS: CURRENT CONTRACT IN FRONT) CME_MINI:ES1! ThinkingAntsOk The price has reached a major Technical resistance zone (the purple lines are a weekly channel, there also other structures that were converging on that level). There we saw a significant sell-off on the Tech sector with a -8% correction on the index. The main question here is: Is the correction finished, or do we have more bearish potential? Main items we can see on the chart, to answer the previous question: SHORT SCENARIO: If the price breaks below the previous lower low, we will take it as a solid confirmation of a bearish movement with a target on the next support zone at 2900-3000. / The risk-reward ratio we can obtain here is 1 : 2 or 1 : 2,5 (Entry below the structure, stop above the structure) / We also saw volume on the sell-off providing another good signal for bears. LONG SCENARIO: If the price is not able to make a new lower low, we will take that as a good signal for bullish movements to come. That's the reason we have a validation level at 3467. If the price reaches that spot, we expect a continuation of the bullish trend towards 3670, which provided a Risk reward ratio of 1 : 1,8 (entry above the structure, stop below the structure) This is a critical level to pay attention to. Remember: Always take a calculated risk and don't be close to one direction, be ready for multiple possibilities