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21 Apr 2015
S&P June contract: 2089/90 key for direction – DayTradeIdeas
FXStreet (Barcelona) - Jason Sen of DayTradeIdeas, shares the technical outlook and key levels for E-mini S&P 500 Futures June contract.
Key Quotes
“Emini S&P must hold above 2089/90 to build on gains re-target 2100/2102. Exit longs & try shorts up to last week's high at 2105 but our shorts need a stop above 2108. A break and close above here is positive and should see bulls push on towards alltime highs at 2116/2118.”
“Failure to hold above 2089 risks a slide to 2080. Try longs with stops below 2075. A break below 2072 keeps the market under pressure for a buying opportunity at 2065/2063. Longs need a stop below 100 day moving average at 2060. A break lower however is much more negative and sees 2063/2065 act as resistance for a test of two and half month trendline support at 2053/2052.”
Key Quotes
“Emini S&P must hold above 2089/90 to build on gains re-target 2100/2102. Exit longs & try shorts up to last week's high at 2105 but our shorts need a stop above 2108. A break and close above here is positive and should see bulls push on towards alltime highs at 2116/2118.”
“Failure to hold above 2089 risks a slide to 2080. Try longs with stops below 2075. A break below 2072 keeps the market under pressure for a buying opportunity at 2065/2063. Longs need a stop below 100 day moving average at 2060. A break lower however is much more negative and sees 2063/2065 act as resistance for a test of two and half month trendline support at 2053/2052.”