ES Mini Futures – Short Term Sentiment likely to turn negative – Market Profile Analysis

ES-Mini formed multiple weaker visual references from 26th May onwards and currently balancing for the last 6 tradings sessions between a highly volatile 4075 – 4175 range

Looking into the current trading context too many crowded short-term buyers still holding on to their positions which could attract temporary profit booking.

ES-Mini Short Term Balance

Dominant Short Term Buyers and Short Term Late Momentum Buyers are trading the extreme of the short-term balance. Last friday ES-Mini futures formed an inside bar within the short term balance

The odds are increasing on the downside breakdown from the short-term balance bringing down the price towards the levels 4070, 4030, and 3955 levels respectively and thereby revisiting all those multiple visual weaker references.