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June E-mini Poised to Test 50% Retracement Level at 1105.75

Discussion in 'Forex Daily News & Outlook' started by futuretrends24, May 28, 2010.

  1. futuretrends24

    futuretrends24 New Member

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    Today’s sample of Futures Analysis from FuturesHound.com

    U.S. equity markets finished sharply higher and are now in positions to test major retracements zones which will indicate whether the uptrend is getting ready to resume or if a new bear market is forming. The fact that investors were willing to buy strength on Thursday could be a clue that fresh money is coming into the market.

    The June E-mini S&P 500 closed in a position to test a key retracement zone at 1105.75 to 1122.00. The June E-mini NASDAQ is testing 1867.75 overnight with 1894.50 its next upside objective. Finally the June E-mini Dow is setup for a further rally to a 50% retracement level at 10337.

    The catalyst behind the rise in equity markets beside short-covering is optimism about the U.S. economy and an easing of tensions in the Euro Zone.

    Read full article at full article at FuturesHound.com as well as Futures Analysis, Futures Education and exclusive timely market Gann Analysis

    Disclaimer: Trading on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore should not invest money that you cannot afford to lose.
     
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