#ES Futures 5.16.22 Overview

Today we have inventory balancing our out 3971.50-4030.75 Range, we are above T+2 high which is 3961.75 which means we can see buy ins at levels above which is holding us up here and we were not able to extend over 4030.75 so far. Will we make a move out of this range today or will we spend time in this range for now until we are ready for next move? On the upside we have Key Resistance at 4025.25-4030.75 which we would need to break over and hold to see the upper levels of 4046-4042.25, 4061.50-4056.50 and next Key Resistance at 4084.50-4077.25. On the downside failure to get above 4030.75-4025.25 we can see lower levels get tested at 4012.50-4008.75, 3994.50-3988.75 and our Key Support at 3976.50-7371.50, as mentioned we should see buyers at lower levels as we have trapped shorts from T+2(Thursday) but if we do take out Key Support we must take out 3957.25-3953.25 to see any continuation lower, otherwise we will rotate back up. I expect a balanced day unless I see clear signs of us moving out of this balance.