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TFC Commodity Trading Forum

S&P Emini/ Also at Major Resistance *PIC*

The Emini at 1280 is also at a major resistance pt like DX at 81.50. Big showdown and turning point next on direction on many markets. Even Gold at $1625 price resistance which is also the 200ema that price remains below. The Emini has a bullish pattern being an Ascending Triangle with the 1280 level the critical price to clear and hold above to confirm a breakout. Price recently cleared the Oct and Nov highs and is consolidating in a tight pattern just above this resistance level which is also bullish and an explosive pattern to see. But price still needs to clear and hold above this major resistance pt of 1280 or it really didn't mean much. Price is king and resistance is resistance. The next move from this point should determine the direction for some time on a variety of markets. Critical point in time for most markets. Hang on to your hats, it could be a wild ride.