$ES #ES-mini #key support #crossroads
A week ago I posted an update that focused on two levels, a resistance 5,830 and a support 5,721:

Back then I noted:
…”That fib points to 5,830 as a potential target for that rally in that subwave -b- up. That means as long as bulls hold Es over 5,721 they will remain in control and will be able to test the upper edge of the Red Box.”
So ES tagged that 5,830 resistance and turned down as expected.
I also noted that the second important level to watch would be a support 5,721.
This is why that level of support critically important now:

ES-mini 60 min chart alternative bullish scenario
Bears produced a clean corrective a-b-c move down off the 5,830 resistance.
If bulls manage to stop this decline at 5,721 support they will remain control and will be able to start a new large an daccelerated leg up.
Bears need to break under 5,721 to confirm we are in one of those two bearish scenarios:

ES-mini Daily chart