Day trading course – bearish channel

Day trading course l 866-640-3737 l Day trading education

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

The bears had it in the AM and they drove the price down to touch and test the support at the bottom trendline of the bearish channel. The bulls came in to rally upwards and have been testing resistance at the upper trendline. The buyers and sellers are in indecision right now.If the buyers move in and push price past the resistance at the trendline, the next target is at 1240. They could rally all the way up to the next target at 1252.50.

 If the sellers come into the market to continue the current trend the first target is 1228, second target area of support is at 1224 and if that support gives way 1220.25 is the next level. If this support gives way price will go down to test the support at the downward channel bottom trendline.

Trade What You See