Risk-On Today
Although the US Supreme Court decided that states could require online companies charge taxes, which caused major tech companies to tumble resulting in a down day for stocks world wide, the smoke has cleared and we appear to be in risk on mode again.
Further, Trump has been threatening tariffs again, but that only caused a very small hiccup which could be considered an entry opportunity.
Both Kovach Momentum Indicators are bearish which tells us to go into sell-any-rally mode. We have strong resistance from upper bound of the Kovach Reversals Indicator, which is another strong sign.
We also have resistance from a level at 119'28'0 which coincides nicely with the KRI . Similarly, we have levels of support at 119'20'0, 119'24'5, and 119'23'5. Keep in mind these are derived from the continuous contract, so make sure to gauge these appropriately in whichever contract you're trading. September or December expiries will be the most liquid at the time of this writing.