Day trading course – testing of resistance
Trading the S&P500 emini futures contract in the S&P500 day trading course live room.
There was a big price failure at 10:00 with a rally to the upside which stalled at the 1367.50 range to turn into consolidation . There was ranging to test support & resistance till there was a breakout to the upside at 1369, with buyers pressure to drive price up with a touch and test of resistance at 1372.75.
If support holds at the bottom trendline, bullish trend will continue with the 1st target at 1372.75. Next target of resistance will be the top trendline.
If support fails at bottom trendline , 1st target range is 1370.75 to 1370. Next target to test support is 1368.50, then onto major support at 1366.50. If that support range breaks the next target is 1365.50 and then on down to next support at 1363.25.
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