E-Mini S&P500: strong bullish signal, quotes crossed above 14-day sma

E-Mini S&P500 technical view is positive and leaves assume the up-trend continuation. The major oscillators confirm the upward trend.

E-Mini S&P500 May 15, 2017 close was 2398.40 (+0.41%). Strong bullish signal given from crossing above 14-day moving average. For intraday trading session E-Mini S&P500 technical view is positive and leaves assume the up-trend continuation. However, we can’t exclude retracements towards the most significant support levels. The major oscillators confirm the upward trend.

e-mini S&P500

View the interactive chart on ProRealTime.com

Simple Moving Average (SMA)
Strong bullish signal: E-Mini S&P500 quotes crossed above 14-day moving average (SMA value is 2389.26). Today trading session forecast is for further price extensions towards the most significant resistance levels. However, the buy signal should be confirmed with increasing volume.
Volumes
E-Mini S&P500 daily chart shows a decrease in volumes compared to 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: 15/05/2017.

Performance: 7 trading days= +0.03% – 15 trading days= +0.56% – 30 trading days= +1.80%

Resistance levels: R1= 2404.5 – R2= 2410.5 – R3= 2424.75
Pivot Point: 2396.25
Support levels: S1= 2390.25 – S2= 2382 – S3= 2367.75


Buying opportunity above 2407.5 targets minor resistance at 2417.25 and perhaps as far as strong resistance at 2424.25, where sellers could regain control. Above that level it could trigger an acceleration to the upside with the next target at 2449.75.

Selling opportunity below 2388.5 targets minor support at 2379.5 and perhaps as far as strong support at 2372.5, where buyers could get back into the market. Below that level we could expect a bearish downward movement with the next target at 2346.

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