Christopher Terry, of iMarketsLive.com, shares a video in which he reviews the S&P 500 E-mini Futures and discusses key levels to watch over the next few days. In the forex markets, Chris highlights a currency pair that’s formed a Bat Pattern, which may be setting up a buying opportunity.
A range has been formed in the S&P E-mini Futures and there is a key zone to watch for resistance—around the 2081-2083 area—to see if the market will hold or fold. The market may be heading into a range over the next few days and this has to be respected. Should the market break to the downside, there is another zone to watch on the buy side around 2076-2078.50. If the market gives a bit of a rally back up into the 2090-2092 zone, this should set up a shorting opportunity. Around 2087-2087.50 is another key zone to watch for a scalp. The market can be played both ways.
In the forex markets, a Bat Pattern in the GBP/NZD is noticeable on the 4-Hour chart and this is setting up a buy pattern that is testing right into the entry zone, but forex traders should still allow the markets to come a little bit further first.
By Christopher Terry, Contributor, iMarketsLive.com
