Day trading course – descending wedge
Trading the S&P500 emini futures contract in the S&P500 day trading course live room.
Buyers are testing the resistance at the top of the the descending wedge. If resistance does not break expect a test to the support at the bottom, it could follow the long term bearish trend that has turned into a ranging channel between support at 1325 and resistance at 1340.
If there is a breakout at the top of the wedge expect to go to the next target area at 1331.50 . Next would be the top of the long term channel and 1339.75. If support gives way you could see price go all the way down to the outer target at 1309.75
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