[/caption] Trading the S&P500 emini futures contract in the S&P500 day trading course live room. A bearish channel has formed and after testing support at the bottom trendline a rally up to break resistance at 1389.25 with consolidation has formed new support at that level. After some indecision with pressure to the upside buyers have come in to test the upper trendline of the channel. If buyers commit a break through of resistance at the top trendline would have the first target at 1394.50. Next targets are 1397.75, 1401.50, 1402.50, 1404.75 and an outer target of 1408. If resistance is strong at the trendline testing of support at 1393 will have sellers come. If support breaks for the first target is 1390.75. Next target 1388.25 ( middle of channel ), 1385.25, down to 1382.75. Outer target is 1380.50 and the bottom trendline. Trade What You See day trading course
