InvestingScope
Long

Higher Low on the 1W Channel Up made. Expecting a rebound.

CME_MINI:ES1!   S&P 500 E-mini Futures
The index has completed a pull back on the long term 1W Channel Up ( RSI = 59.796, MACD = 50.200, B/BP = 46.3920) by technically pricing its Higher Low (Highs/Lows = 0) near 2,875. The downside potential is limited. 1D should develop a new bullish leg/ Channel Up to test successively all the Resistance levels (2,910/ 2,930/ 2,947.75). Keep in mind that we have just entered the last economic quarter (Q4) of the year, where institutional investors take long positions for the end of the year rally. Our TP remains 2,960.
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