Slope of Hope Blog Posts

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E-mini S&P500 Market Analysis

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Chart Analysis

Yesterday the ESM15 market closed down again. The ESM15 DAILY chart below shows the support and resistance levels discussed in the LONG and SHORT sections below.

As you can see there is more room to go up than down, before reaching DAILY levels that will offer some meaningful opposition to a continued advance. This means that in theory the path is clear to go up, and combined with the fact that today is (at the moment of writing) the third day down in a row, a bounce is becoming more and more possible as we will see in the TO GO LONG section below.

TO GO LONG

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