Send me real-time posts from this site at my email

S&P 500 Shortening of the thrust with pending reversal to go up

S&P 500 Shortening of the thrust with pending reversal to go up

S&P 500 futures tested the non-RTH low from yesterday and rallied up to close at the high. It broke out from the H1 down channel and currently retest the supply line turned support. A down swing is expected to have a test before initiating a change of character rally, possible forming an apex formation.

Check out the video for a complete walk through of the daily market analysis of S&P 500 futures (ES) for 30 Jun 2020 trading session. In this video, I am going to show you the market recap on the last session, plus a trade review in the M3 timeframe (including entry, exit and the rationale behind). Going forward, I will cover the bias, the key levels to pay attention to, the potential setup for the US session later.

I encourage you to watch my daily market analysis video yesterday if you haven't in order to better relate to the market recap and the trade review.

Bias - neutral (Day trading); bullish (long term)

Key levels - Resistance: 3080, 3060 ; Support: 3020–3040, 3000, 2925

Potential setup - Look for a test of the last hour bar (3020–3040)or 3000 from yesterday to long on reversal. Or a test of the 1pm candle (3042–3057) to short.

Disclaimer: The information in this presentation is solely for educational purpose and should not be taken as investment advice.

Welcome! Is it your First time here?

What are you looking for? Select your points of interest to improve your first-time experience:

Apply & Continue