Key levels
7786–7782Resistance · prior day high / supply
7767.75Resistance · overnight high
7738Resistance · 20DMA + 50DMA (mid-range)
7719Support · pullback zone
7708–7705Support · prior day low
7671Support · 100DMA
Context
Tuesday broke above 7771 to 7782 and failed, closing at 7713 near the lows; overnight made a lower high at 7767.75 and held 7705. This morning the demand did the work: 7705 held at 04:00 and 7719 held twice after it, each swept by 2–3 ticks before buyers stepped in, so stops belong below the zone, not on the line. ES now sits at 7742, mid-range around the 20DMA and 50DMA (both 7738), so the trades are at the edges: fade the 7767–7782 supply, buy the 7719–7705 demand.