S&P Forecast- Be Ready To Sell A Break
Jason Sen | Jun 22, 2017 02:45AM ET
Emini S&P retests the best support for today at 2429/26. We may bounce again as we retest this level now - perhaps another 10 pointer...but a break lower later today is more likely now. We do need a correction. Be ready to sell a break lower targeting the low last week at 2419/18 & 2 week low at 2415. Bear in mind a weekly close on Friday below 2418 gives us a weekly reversal sell signal. Only minor - but still a short term sell signal. Below 2415 today targets short term Fibonacci support at 2411/10 with a good chance of a low for the day.
Bulls need prices above 2440 today to retest the 2450/51.50 high. Bear in mind very strong resistance at 2457/59 & again at 4.5 year trend line resistance at 2475/80.
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