Day trading course – bearish channel

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

In a bearish channel with testing of support at the bottom trendline for most of yesterday till 0200 when buyers came in to rally market up to test resistance at the 50M, then up to present price range with consolidation.

If buyers come in to pressure market up to test resistance, 1st target is 1220 on up to top trendline of the bearish channel. Next target 1227.25 onto 1230. If there’s a breakthrough of resistance, next level up at 1239.50.

If bearish sentiment continues, follow through to 1st target at 1213.50, then onto 1209.25 at the 50MA. Next level is 1203. If there is a pierce and breakthrough of support , price will drop to test support at the bottom trendline of present channel.

Trade What You See