For those who follow and trade index futures, have a look at the chart below:
The green trend (60 minute trend) is bearish today so therefore the direction of highest probability is bearish
The sideways arrow means even though the probability is bearish, price is consolidating so wait for a break to the downside. The break will be confirmed if the 1 Hour Stochastic indicators turns South
Should price violate the 60 minute trend resistance line and thereby become a bullish probability then the Current and Major Trend resistance levels will come into effect
If you have any questions, please email me or simply visit my website at http://www.stocksanalysis.co.za
Johan Kriek
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