S&P500 Futures Analysis – 13Oct2021

S&P500 futures are currently at 4325, and they are once again testing 4320 support level today, and the risk-reward here is looking very positive for upside target of 4450. Our SP500 Futures Trading Strategy is to stay long above 4330, and increase long positions above 4450, above the resistance line shown in the chart below.

Neat downward sloping resistance line with controlled correction, indicates a solid rally ahead. Clean long trades will come above the resistance line. 4450-4500 are near-term upside targets, which can give 120-170 points gain from current level 4325.

The S&P500 futures have been testing 4300-4320 support levels, and bouncing back from there, so this is the key support level, and long positions can be carefully created above this level. All long positions will need to be closed below 4300, because that will be a fresh breakdown.

#SP500 #SPX #markets #Nasdaq

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