Emini Futures Trading Analysis- 08May2019


The S&P500 futures have tested their 50 day simple moving average (SMA) yesterday and today, which is currently at 2860 level. Today’s higher low is positive sign for successful support testing. The futures should try to bounce back to 2900 and 2920 from the current level of 2880. There is a support at 2860, which got tested yesterday. There is an untested support level at 2840, which may get tested if 2860 breaks down for any reason.
Above 2900, the reliable upside target is 3000, and traders should stay long above 2900.

[Bonus Trade]
Buy at 2880 for Target 2900 with Stop loss 2860.

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