S&P 500 hour chart analysis

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• S&P 500 futures hour chart is showing a range of 1117 - 1140 on closing basis.
• Right now the index is trading near the top end of the range.
• Breakout from this range can be confirmed only if the hour closes above 1140 or on a good move above 1140 happens.
• Indicators like Stochastic has reached the overbought region in hour chart