[MrPaul]

Hey everyone just wanted to post up a chart of the daily ER2 for a heads up on Monday.

We do not have any economic reports or chatter scheduled Monday so we could see some technical trading.

Daily ER2 chart for Monday March 19th

We see here on the daily time frame that price has tested the low area after the sell-off a couple weeks back. In that area we see a bullish engulfing (blue arrow) followed with a hammer (red arrow) on the test.

What make this area interesting for Monday is that we have a cluster of support levels across different time frames. We have The daily S1(black line), Monthly S1(dark red line), Previous Days Low(Light Green line) and the Weekly Pivot(purple line). This is significant, there are traders from different time frames with different objectives that could be support or resisting that level.

This cluster could leave us a temporary support to bounce up or if price trades lower a temporary resistance level for the day.

What I'll be looking for tomorrow is demand rising near that level or lots of supply coming in after that level is traded.

[torero]

I see a broadening pattern at play from a short-term perspective


And this is my inter-day perspective. A double-bottom formation in play, not confirmed 797 level is taken out. But lots of resistance in this area.