Emini Futures Trading Analysis- 21Nov2019


The S&P500 futures today at 3103.90, after an intraday correction till 3091.70, and recovery from there to close above 3100. This indicates buying strength because the futures were able to pull back up and close above 3100.

As described in the above chart, the main support is at 3075-3080 level, and the futures bounced back from that level several times before making the upmove above 3100. Below 3070, the futures will face major selling pressure and immediate downside target of 3010-3000 level.

The S&P500 trend is clearly up and we must only think of long trades. Our S&P500 Emini Futures Trading Strategy is to stay long above 3080 for target 3120 and 3130.

[Bonus Trade] We are seeing a major resistance at 3140, so a fresh long trade will be possible above 3150 level, for target 3200.

Comments are closed.