Technical analysis applied to E-Mini S&P500 daily chart shows a neutral trend within a strong bullish main trend.
E-Mini S&P500 October 17, 2017 close was unchanged at 2557 (+0.03%). Technical analysis applied to the daily chart shows a neutral trend within a strong bullish main trend. For today trading session the forecast is for price fluctuations between support and resistance levels. Momentum indicator confirm the positive trend, marked the third consecutive positive trading session.
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Simple Moving Average (SMA)
E-Mini S&P500 quotes are above 14 day moving average (SMA value is 2541,05).
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: October 17, 2017.
Performance: 7 trading days= +0.52% – 15 trading days= +2.10% – 30 trading days= +3.71%
Resistance levels: R1= 2559 – R2= 2561.25 – R3= 2566.75
Pivot Point: 2555.75
Support levels: S1= 2553.5 – S2= 2550.25 – S3= 2544.75
Buying opportunity above 2559 targets minor resistance at 2566.75 and perhaps as far as strong resistance at 2577.25, where sellers could regain control. Above that level it could trigger an acceleration to the upside with the next target at 2592.50.
Selling opportunity below 2552.25 targets minor support at 2544.75 and perhaps as far as strong support at 2536,25, where buyers could get back into the market. Below that level we could expect a bearish downward movement with the next target at 2523.