S&P Micro Futures Forecast for 6/12: Key Levels and Insights Using the Bob Kendall Indicators








Daily Chart Analysis

Support Levels:

STX Level: The STX level, aligning with the 10-day and 21-day moving averages (MA), is a crucial support zone. This range, from 5339 to 5326, offers a solid base, especially if the market experiences any pullbacks.

Resistance Levels:

R2 and R3 Levels: These levels remain strong resistance points. Notably, R3 is near R2 on the weekly chart at 5423, making this area a significant resistance zone to watch.

Given the scheduled economic data releases and Jerome Powell's speech, we can expect heightened volatility. These events can lead to rapid market movements, potentially testing extreme levels. It's important to remain cautious and be prepared for sudden price swings.


Reminder of the Weekly Levels:

Weekly Chart Analysis

Support Levels:

S1 at 5323: This support level coincides with the 10 and 21-day MAs on the daily chart, reinforcing its significance as a support zone throughout the week.

S3 at 5251: This level is crucial as it aligns with the 10-day moving average (MA) on the weekly chart, providing a strong support base.

Resistance Levels:

R1 at 5387: This resistance level is slightly above R1 on the monthly chart at 5378, marking it as a critical resistance point.

R3 at 5459: This aligns closely with R2 on the monthly chart at 5471, indicating a major resistance zone if R2 holds.






Disclaimer

This forecast is based on technical analysis and market observations using Bob Kendall indicators. It should not be considered financial advice. Traders should conduct their own research and analysis before making any trading decisions. Trading futures involves substantial risk and may not be suitable for all investors.



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