Emini Futures Trading Update – 26Aug2016


Here is the weekly chart of S&P500 Emini futures. The current upside target is 2200. The 3 major support levels are marked in yellow. They are at: 2150, 2000, 1850. As you will observe, they are at a gap of 150 points each. We can hold long positions with 2150 as stop. Between 2150 and 2100, its a zone of indecision and we can avoid long or short trades. Below 2100, we can sell Emini futures for targets of 2020 with stop of 2120. If the index goes into a correction mode, we have to wait aside for the fall to stop and a green week to come, which will indicate larger buyers are stepping in. Only then, we can consider new long positions in Emini futures. Thanks.


Comments are closed.