MARKET SAVANT

NQ the 9 EMA at 28386.03 and 20 EMA at 28372.58 sit close together above the 50 EMA at 28216.79, and the overnight range 28266–28642 sits above PDC 28284, with magnets at 28250, 28500 and 28000. Acceptance above ON high 28642 puts PDH 28725.75 in question above; rejection at 28642 leaves it as resistance, with 28266 and PDL 28079.75 below as support. Acceptance below ON low 28266 puts PDL 28079.75 in question below. Between 28266 and 28642, rangebound — the ON extremes are the edges to watch, and 28500 sits inside as a reference. ES: the 9 EMA at 7501.66, 20 EMA at 7491.9 and 50 EMA at 7469.29 are stacked in a narrow band beneath PDC 7502.5, and the overnight range 7479.5–7527.5 is compressed relative to the prior day 7427.5 to 7541, with magnets at 7500, 7750 and 7250. Acceptance above ON high 7527.5 puts PDH 7541 in question above; rejection at 7527.5 leaves it as resistance, with 7479.5 and PDL 7427.5 below as support. Acceptance below ON low 7479.5 puts PDL 7427.5 in question below. Between 7479.5 and 7527.5, rangebound. GC: the EMAs are inverted relative to the index products — 9 at 4105.37 beneath 20 at 4113.77 beneath 50 at 4120.09 — with PDC 4098.9 under all three and magnets at 4000 and 4250. The overnight high 4165.6 is the prior day high 4165.6, so one level does double duty. Acceptance above 4165.6 puts that same 4165.6 in question above; rejection at 4165.6 leaves it as resistance, with 4096.4 and PDL 4076.5 below as support. Acceptance below ON low 4096.4 puts PDL 4076.5 in question below. Between 4096.4 and 4165.6, rangebound. Across all three, the ON extremes are the decision points and the 06:55–07:05 blackout around the 07:00 BST OPEC Meeting is the window where any level test carries the least reliable information.