CHART - III
CHART - II
- S&P 500 futures hour chart has violated the support line.
- But it is not falling as expected. 1085 - 1088 region is crucial for bulls and bears.
- If 1085 breaks we can see good correction
CHART - I
- S&P 500 futures hour chart is trading in a down trending channel.
- It is close to a breakout point. The index can give good direction soon.
- Break of the support line will favour bears.
- Hourly stochastic is showing some positive divergence. But it seems there will be another down move before the positive divergence in hour chart shows its effect.
- Wait for a clear direction before taking a trade.