Notice Emini S&P chose to go sideway for the week and tagged the channel bottom yesterday at open and bounced off that quickly. It is now sitting at the channel support.
The green dot at the right side highlights the channel top for the bullish scenario and channel break target for the bearish scenario.
Emini S&P Equal Distances from Both Upside and Downside Targets May 22, 2015
Last update on the 19th nailed the short term resistance and here is what happened so far before open.
Notice Emini S&P chose to go sideway for the week and tagged the channel bottom yesterday at open and bounced off that quickly. It is now sitting at the channel support.
The green dot at the right side highlights the channel top for the bullish scenario and channel break target for the bearish scenario.
You can learn more about channel behaviour from Art of Chart Reading the Channel chapter.
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