Day trading course – 12 point gap

Trading the S&P500 emini futures contract in the S&P500 day trading course live room.

Over the weekend buyers took over and created a 12 point gap to the upside . Price hung out at around the 200MA. Now testing the bottom support of the short term channel at 1300. Might be trying to close the gap that was created, if the support gives way look for next target to be at 1293, next target at 1289 and if support gives way look for price to keep heading towards bottom of the long term bearish channel. Outer target is at 1269.

If they come up with a resolution to the current budget crisis look for a rally to the upside with target being at 1307.75 and then on towards top of the bear channel and beyond.

Trade What You See