SPX Futures mini has been in this down channel for about a month now. You can see there's also a Moving Avg resistance closely following the upper end of the pararel channel.
It's sort of a decision time in the coming week -whether to make a break out of the channel, or to get beat down again further down the channel as it has been doing.
Positives are that $ES may have made a double bottom to bounce out of this "funk". Technical indicators also seem to support a positive momentum to the upside. If we finish the Friday session on a strong upside note for the week, then next week may give us another chance.
Good Luck.
It's sort of a decision time in the coming week -whether to make a break out of the channel, or to get beat down again further down the channel as it has been doing.
Positives are that $ES may have made a double bottom to bounce out of this "funk". Technical indicators also seem to support a positive momentum to the upside. If we finish the Friday session on a strong upside note for the week, then next week may give us another chance.
Good Luck.