Technical Analysis DayTradeIdeas
Technical Analysis DayTradeIdeas
20 July
Video analysis:
Emini S&P SEPTEMBER futures broke support at 7520/7510 for a short term sell signal targeting 7470/65 (a low for the day just 3 points above here) & 7550/40 for profit taking on shorts.
Support at 7445/35 & longs need stops below 7425.
We now have strong resistance at 7530/7540 & shorts need stops above 7550. A break higher initially targets 7570/7575.
Emini Nasdaq SEPTEMBER broke important support at 29150/29050 for a short term sell signal targeting 29590/560 & reached as far as 28408.
Shorts at resistance at 29000/29150 worked on the slide from 29050 to 28713 later in the session.
We meet strong resistance at 29050/29200 & shorts need stops above 29350.
A break higher however can target 29700/29750.Further losses look likely & a break below 28400 targets the early June low at 28270/28225 over the next 2 or 3 sessions.
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Daily Technical Analysis is provided by Jason Sen of Day Trade Ideas, who has been day trading since the late 1980’s. Jason has been a contributor of Traders Summit since the beginning. He primarily focuses on providing technical analysis of the financial markets, including stock chart patterns, Forex and Metals setups, and other useful technical analysis.
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Jason Sen, Director
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