E-Mini S&P 500: inside bar pattern drawn on daily chart

E-Mini S&P 500 future close slightly higher. For today trading session the forecast of price movements is between support and resistance levels.

E-Mini S&P 500 future close slightly higher. Trading session of the 05/01/2016 ends at 2011.7 (+0.13%). Technical analysis applied to the daily chart shows a bearish trend, anyway for today trading session the forecast of price movements is between support and resistance levels. The major oscillators confirm the bearish trend. An inside bar pattern drawn on daily chart. For today trading session the forecast of price movements is between support and resistance levels.

Mini S&P500

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Simple Moving Average (SMA)
The price is below the 14 days moving average (SMA value is 2036.06). The short term view is therefore bearish, however for today trading session we can’t exclude retracements towards the most significant resistance levels.
Volumes
Daily chart shows volume is lower than the previous day. This could be a sign of a significant move to come.


Support and Resistance levels
7, 15 and 30 trading days Performance. Support, Resistance and Pivot Point levels. Last updated closing price: 05/01/2016.

Performance: 7 trading days= -1.93% – 15 trading days= +0.10% – 30 trading days= -3.48%

Resistance levels: R1= 2021.75 – R2= 2031.75 – R3= 2056.5
Pivot Point: 2007
Support levels: S1= 1997 – S2= 1982.25 – S3= 1957.5


DAILY TRADING SIGNALS

Buying opportunity above 2019.25, targets minor resistance at 2027.5 and perhaps as far as strong resistance at 2033.5, where sellers could regain control. Above that level it could trigger an acceleration to the upside with the next target at 2054.75.

Selling opportunity below 2003.5, targets minor support at 1995.75 and perhaps as far as strong support at 1990, where buyers could get back into the market. Below that level we could expect a bearish downward movement with the next target at 1967.75.