E-Mini S&P 500 future close slightly higher. The short term view is still strong bullish. Buying opportunity above 2192.
E-Mini S&P 500 future close slightly higher. Trading session of the 18/08/2016 ends at 2183.6 (+0.18%). Technical analysis applied to the daily chart shows a neutral trend within a very strong bullish trend in the short and medium term. For today trading session the forecast of price movements is between support and resistance levels. The major oscillators show positive values.
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Simple Moving Average (SMA)
The price is above the 14 days moving average (SMA value is 2173,14). The short term view is still strong bullish.
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: 18/08/2016.
Performance: 7 trading days= +0.50% – 15 trading days= +0.71% – 30 trading days= +2.98%
Resistance levels: R1= 2186.75 – R2= 2189.75 – R3= 2198
Pivot Point: 2181.50
Support levels: S1= 2178.50 – S2= 2173.25 – S3= 2165
Buying opportunity above 2192 targets minor resistance at 2200.75 and perhaps as far as strong resistance at 2207.25, where sellers could regain control. Above that level it could trigger an acceleration to the upside with the next target at 2230.25.
Selling opportunity below 2174.75 targets minor support at 2166.25 and perhaps as far as strong support at 2160, where buyers could get back into the market. Below that level we could expect a bearish downward movement with the next target at 2135.75.