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TFC Commodity Trading Forum

Emini/ Bumping Downtrendline Resistance *PIC*

The Dec Emini is bumping up against its downtrendline resistance. (the Dec contract expires Dec 15 and then switches to the March/12 contract) From the low of Oct 4th the present rally should top out between Dec 16th and Dec 23rd if the typical rally cycle repeats once again. Meanwhile resistance is resistance and price is spinning its wheels at the downtrendline. The technical chart pattern on the Emini is much like the Gold chart and tends to be explosive when it breaks out. One definitely doesn't want to be on the wrong side of the break.