E-Mini S&P 500: today forecast, selling opportunity below 1885

The main trend is down on the daily chart but for today trading session the forecast of price movements is between support and resistance levels.

On the 02/02/2016 E-Mini S&P 500 future close was at 1897.50 (-1.76%). The main trend is down on the daily chart, the bears are in control. The negative value of many leading oscillators indicates infact a downward trend, anyway for today trading session the forecast of price movements is between support and resistance levels. The major oscillators appear turning negative, we suggest to monitore today closing.

E-Mini S&P500 forecast

View the interactive chart on ProRealTime.com

Simple Moving Average (SMA)
The price is above the 14 days moving average (SMA value is 1888.17).
Volumes
Daily chart shows volume is higher 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: 02/02/2016.

Performance: 7 trading days= +1.45% – 15 trading days= +0.85% – 30 trading days= -5.83%

Resistance levels: R1= 1921.5 – R2= 1945.5 – R3= 1985.75
Pivot Point: 1905.25
Support levels: S1= 1881.25 – S2= 1865 – S3= 1824.75


DAILY TRADING SIGNALS

Buying opportunity above 1909.75 targets minor resistance at 1916.75 and perhaps as far as strong resistance at 1922.25, where sellers could regain control. Above that level it could trigger an acceleration to the upside with the next target at 1943.5

Selling opportunity below 1885 targets minor support at 1879.25 and perhaps as far as strong support at 1873.75, where buyers could get back into the market. Below that level we could expect a bearish downward movement with the next target at 1852.25