S&P500 e-mini holds key level and fails shorts in the 4-hour chart

The S&P500 emini, likewise the Euro, shows a failure of shorts in the 4-hour chart after climbing above 1,355.75

The futures contracts has the tendency to retrace to the halfway back of the last leg. I would expect price to move higher to the 1,377.25 level.

As the weekly key level at 1,332.25 held, so far, the 1,453 long target is still in place on ES. Therefore we will need to study how price will behave in the vicinity of the 1,377.25 level.

S&P 500 4-hour chart shorts fail

 

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Filed under S&P mini futures setups and trades

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