Day trading course – consolidation

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

There was a bullish move up to meet with resistance at 1289.50. There was a subsequent retraction to the current range between support at 1286 to resistance area at 1287.50. There is strong support at 1286.

Bulls could drive price up to test the 1st target at 1287.75 and if there is a breakthrough of resistance the next target is the top trendline at 1288.75. Next target would be 1290 and outer resistance would be at 1292.

If support gives way at 1286 bears will come in to test the next target at the bottom trendline at 1285. Next target would be 1281.75 which would also coincide with the 200SMA. If support gives way next target is 1279. Outer target is 1277.75.

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Day trading course