November 6, 2012

S&P 500 Futures daily chart analysis

  • Bears are Seeing a Bearish cross with 20 and 50 Day SMA which will be effective as long as price stays below 50 SMA.
  • Bears are also seeing a Bearish Head and shoulders pattern for that too 50 SMA is important above which pattern will become weak.
  • Bulls are only seeing a range. Price stuck on the bearish side of the range. Price on moving above the shaded portion and 50 SMA should give enough momentum for a breakout.

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