CBOT SP500 Futures : Looks like a correction is imminent

CBOT S&P 500 Futures, (ES0Y) on the hourly chart looks as if it may be up for a much needed correction. However for downside momentum to build it needs to break below 1324. Currently at 1326.50, there is support at 1320 and more significantly at 1314 to 1315.50. Unless a swift reversal takes place and it trades strongly above 1328.50 we suspect the US markets will post a corrective candle at long last tonight.

 

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: