E-mini S&P 500 future contract: Rising structure remains

The e-mini S&P 500 future contract has kept an impeccable short-term rising tendency. The decline between January the fifteenth and February the tenth increased the likelihood to extend its eleven-month primary upwards movement, due to the fact that it was able to diminish its excessive overbought situation that most of technical indicators showed. Therefore, the correction from the level of 1.150 to 1.050 has played a key role, because it has boosted this new rising impulse.

To sum up, this index remains bullish from a middle and short-term perspective. Prices in the first scenario are guided by the parallel lines, which are the current limits to its movement. As for the short-run strategy, it should be planned taken into account that the rising trend, born five weeks ago, remains intact.

So far, the e-mini S&P 500 maintains its successive higher-low prices. The last supports shall be watched over, so that investors remain confident that the rising structure continue going ahead. This important zones are the level of 1.150 and 1.130 points.

The recommendation for this index is to keep long positions. Stop loss in 1.125 points.