S&P 500 E-mini FuturesUpdated E-MINI S&P 500 FUTURES - STILL WAITING FOR TRIANGLE BREAKOUT
Good Afternoon!
I continue to watch the ES1! with the symmetrical triangle chart pattern that developed with the trend-lines of the Jan/Feb highs and Feb/Mar lows converging toward each other.
There is a higher probability of the pattern breaking out to the long side, but if the bottom leg of the triangle does not hold look for drop to the short side.
I am intently watching the ES1! and am patiently waiting for a break of the triangle pattern on the daily or hourly charts.
Potential resistance levels for a high-side break-out:
R1: 2806
R2: 2880
Potential support levels for a low-side break-out:
S1: 2644
S2: 2526
Happy Trading!
KP
I continue to watch the ES1! with the symmetrical triangle chart pattern that developed with the trend-lines of the Jan/Feb highs and Feb/Mar lows converging toward each other.
There is a higher probability of the pattern breaking out to the long side, but if the bottom leg of the triangle does not hold look for drop to the short side.
I am intently watching the ES1! and am patiently waiting for a break of the triangle pattern on the daily or hourly charts.
Potential resistance levels for a high-side break-out:
R1: 2806
R2: 2880
Potential support levels for a low-side break-out:
S1: 2644
S2: 2526
Happy Trading!
KP
Note
AUDJPY (carry trade indicator) trending lower - negative divergence.
Could be an early indicator of the S&P breaking down.
Daily, 4 hr, and 1 hr squeezes are still in effect.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.