Posted By: Ilan Levy-Mayer Vice President, Cannon Trading Futures Blog
“We Met the Initial Target of 1049”
Yesterday I mentioned the following:
Daily chart of the mini Russell, which I consider the leader, for review below. Looks like we may get a test of previous lows and if and then the big question.. do we bounce or do we start a new leg lower:
Well the big question for this point in time is here.. we met the initial target of 1049 and from a technical point of view we are looking at some wide bands. 1049 being pivot line, 1080 being resistance and 1000.75 being major support.
Today I am sharing daily chart of the mini SP 500 for review:
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Futures & Commodity Trading Levels (Potential Support/Resistance):
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