Emini S&P 500 expectations.

More bigger picture. Weekly chart....

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Now approaching EMA 30 price level at 1 day chart and RESISTANCE zone. These price levels are key, let´s wait to see how price action behaves.

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malaspina said:
Long term trend in the day chart is still downward.
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While the Daily Chart has indeed come off it's highs - it is too soon to say that the long term trend is down. We will have more work to do on the downside in order to break down some very long standing technical support. Using 240 minute charts does not offer the resolution to back up your long term assessment.

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bone said:
While the Daily Chart has indeed come off it's highs - it is too soon to say that the long term trend is down. We will have more work to do on the downside in order to break down some very long standing technical support. Using 240 minute charts does not offer the resolution to back up your long term assessment.

jj3cip.png


2yys1uf.png


2wedgl5.png
More...

Thanks again for this important observation. Please note that, for my swing trading perspective (my trading time frame) "long term trend" is based on what the daily chart says during the last days price action, timing entries and exits using the 4 hour chart. Maybe "long term trend" is not the best way to address it. It is my personal style. I do like your observation, please keep it up, I like to share ideas and to learn from others.
 
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