S&P Futures Weekly Price Action & Technical Analysis as on 4-JUN-2017

In the passing bullish week, the price has finally managed to reach the Semiannual target of the 2016 First half bullish Pinbar on sloping 8 EMA, at 2430 (the exact spot is 2437).The Monthly bar of May was closed finally as a bullish Pinbar on sloping 8 EMA as well, and already triggered by the thrust up of last Thursday.

The next major target is the Yearly Spring target at 2460. The market has already entered a Weekly bullish setup, a Follow through model which happens to be also a Weekly bullish Pinbar on sloping 8 EMA, target at 2460 as well. The Monthly bar of last April had been also a bullish Pinbar on sloping 8 EMA, and has the same target (!) approximately.

Above that there are targets for the last May Monthly bullish Pinbar on sloping 8 EMA, at 2490 and the last Quarterly bar of 2016, being a bullish Pinbar on the sloping 8 EMA having target at 2520.

The next major target above – is currently quite far, the Yearly bullish Pinbar on sloping 8 EMA, pointing at 2740 as the level of target.

 

 

S&P Futures: Weekly, Monthly and Quarterly charts (at the courtesy of prorealtime.com

 

 

 

Disclaimer: Anyone who takes action by this article does it at his own risk and understanding, and the writer won’t have any liability for any damages caused by this action.

Gil Ecker

getrade8@gmail.com

Market Analyst and trader

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