Oil Spikes to $78, BABA Surges 11% & Key /ES Support Levels

Here is the trade setup for the Wednesday open.Geopolitical shockwaves are hitting the tape as oil spikes over 5% following fresh Middle East tensions, while Alibaba completely defies the broader market drop.🚀 BABA: Surging 11% pre-market on a major U.S. court win and explosive 45% cloud growth.🔥 CVX & XOM: Leading the energy sector higher as Brent crude tops $78 a barrel.📉 RIVN: Falling further after pricing its massive $1.2B public offering at $15.50.⚡ MTZ: Spiking on a massive $1.65B electrical infrastructure and data center acquisition.Key Support & Resistance Levels to Watch:🔔 S&P 500 Futures (/ES): Support at 7,485 – 7,495 | Resistance at 7,550 & 7,600🔔 Nasdaq Futures (/NQ): Support at 29,274 – 29,300 | Resistance at 29,400 & 29,800 – 30,000Content is for informational and educational purposes only. Market data may be subject to platform delays. This is not financial advice.