September 19, 2012

S&P 500 Futures chart analysis

  • One hour chart shows channel breakout and retest of the channel resistance line. 100 Hour SMA too may act as support for an up move.
  • Price in a range between 1449 - 1458. Once the range is resold a bigger move is likely to happen.
  • Price is above 200 SMA as shown in 3rd chart a bigger fall may not be possible as long as price holds above this crucial support level.

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