S&P 500 FUTURES: PATH OF LEAST RESISTANCE IS UP AFTER THE FED, AHEAD OF GDP– CONFLUENCE DETECTOR

convergence of the Simple Moving Average 50-1h, the Fibonacci 61.8% one-week, the SMA 200-15m, the Bollinger Band 1h-Middle, and more.

It is backed up by further clusters, with a noteworthy cushion at 3,226, which is where the Pivot Point one-month Resistance 1 and the previous daily low meet the price.

Looking up, an initial resistance is at 3,252, which is the confluence of the BB 1h-Upper, the previous yearly high, and the Fibonacci 38.2% one-week.

The upside target is 3,272, which is a juncture of lines including the Fibonacci 23.6% one-week, the PP one-week R1, and the PP one-day R2.

S&P 500 CHART

Here is how it looks on the tool:

CONFLUENCE DETECTOR

The Confluence Detector finds exciting opportunities using Technical Confluences. The TC is a tool to locate and point out those price levels where there is a congestion of indicators, moving averages, Fibonacci levels, Pivot Points, etc. Knowing where these congestion points are located is very useful for the trader, and can be used as a basis for different strategies.

Learn more about Technical Confluence



Add a comment