S&P 500 Futures: Testing Time For Bulls

On analysis of the movements of the futures, the level of 3398.96 seems to be a Line Of Control for bulls, as it proved to be the final resistance in February 2020; which finally pushed the index to test the lowest point on Mar. 23.

The bulls could feel reluctant to stay above this line. If so, S&P 500 futures could repeat a bearish move shortly, that they showed on Sep. 3.

Disclaimer

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Disclaimer: This analysis is purely based on the technical observations. I do not have any position in Natural Gas. One can create position in Natural Gas at his/her own risk.

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