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E-mini futures - correction after impulse

E-mini futures - correction after impulse

In our recent analysis, we have mentioned that E-mini S&P 500 futures are trying to create an impulse wave known from the Elliott wave theory. It seems that the whole upward structure has been finished and currently we could observe a potential wave “a” within corrective movement.

From the technical point of view, we may expect another upward wave labeled as wave “b” and then another downward wave labeled as wave “c”. It seems that the first potential resistance is set by the previous top at 3358 pts. and the first potential support has been tested at 3300 USD.

Daniel Kostecki, Chief Analyst Conotoxia Ltd.

Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.

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