Price has moved to touch the 1291 area of support on the daily and 4hr charts. With a good amount of support in this area we see that we have a good possibility of a retracement now. The move could see price move to test the 1302.25 and 1305 area’s of resistance with 1315 in as a high today. Next question is if we will see the reversal here and move back to the upside, or see this bearish channel hold over the next couple weeks? We shall see… I’ll see you at the starting line!
Day Trading Course, S&P 500 Daily Price Action
June 6, 2011 / Day trading course, S&P500 day trading course / Tags: Calgary day trading course, continuation, day trading calgary, day trading tips, derivatives market, eurusd, financial assets, investing, japan, learn how to trade futures, S&P500 day trading course, stock market, Support and resistance, technical trading