Christopher Terry, of iMarketsLive.com, shares a video in which he reviews the S&P 500 futures as it starts to form a harmonic butterfly pattern on the daily charts and he also highlights a key resistance zone to watch for a currency pair.
The daily chart for the S&P 500 Futures is starting to form a large harmonic butterfly pattern with a key area to watch for resistance over the next eight to ten points. The completion point comes in around 2119-2122, so from this point going forward, traders should start to see resistance come in and the market could start to turn.
There is also a big area to watch for GBP/USD in the 1.5500-1.5600 zone on the daily charts that forex traders should also keep an eye on for resistance to come in.
By Christopher Terry, Contributor, iMarketsLive.com
