S&P 500 Futures Pushing for New Record Highs, Where to?
S&P 500 futures seem to be pushing for new highs during Friday Asia-Pacific trade.
On the 4-hour chart, this follows brief consolidation since earlier this month. Negative RSI divergence still persists, showing fading upside momentum. This can at times precede a turn lower.
Keep a close eye on the 50- and 100-period Simple Moving Averages. These remain tilted upward and could offer key support in the event of a turn lower.
Immediate resistance could be the 23.5% Fibonacci extension at 4731.75. Above that is the 38.2% extension at 4797.75.
Signs of a material turn lower could come from taking out the key 4644 - 4625 support zone in the event of a false breakout.
ES1!
On the 4-hour chart, this follows brief consolidation since earlier this month. Negative RSI divergence still persists, showing fading upside momentum. This can at times precede a turn lower.
Keep a close eye on the 50- and 100-period Simple Moving Averages. These remain tilted upward and could offer key support in the event of a turn lower.
Immediate resistance could be the 23.5% Fibonacci extension at 4731.75. Above that is the 38.2% extension at 4797.75.
Signs of a material turn lower could come from taking out the key 4644 - 4625 support zone in the event of a false breakout.
ES1!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.