S&P 500 channel formation

CHART-II

• S&P 500 Futures moving to the bottom of the channel. 1162 may give support

CHART-I

• S&P 500 Futures Hour chart in a channel.
• Channel comes with a breakout which went till 1181 levels and price re entered the channel.
• Now Price is trying to breakout of the channel again. But 1181 level will act as resistance now.