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On April 21, Joel Rayburn, a retired U.S. Army officer and former diplomat, stated, “The U.S. military has a decisive military advantage over Iran, but translating that advantage into political gains is a much more difficult task. The Iranian military ‘cannot control its own airspace,’ and the U.S. and Israeli air forces can fly over ‘all of Iran and strike virtually any target they want at any time.’ A similar disparity in strength would emerge in a confrontation in the Strait of Hormuz. The difficulty lies in translating this military advantage into U.S. political objectives. In this context, broader factors will play a role: global economic and political pressures, including international and domestic ones. I don’t know how Trump and his cabinet will make decisions based on these considerations. But from a purely military perspective, if the negotiators sitting at the negotiating table choose to use force, it means they do indeed possess a decisive military advantage.”Russian Armed Forces Chief of the General Staff Gerasimov: Russian troops continue their advance in the north and south of Kostiandinovka.April 21st, Futures News: Economies.com analysts latest view: Spot gold continues its oscillating trend in recent intraday trading, steadily holding above its 50-day EMA support level. This provides a crucial technical foundation for price stability and limits any strong downside pressure. Prices remain firmly above the key resistance level of $4800, demonstrating the current trends strong momentum. This performance is occurring against the backdrop of a predominantly upward corrective trend in the short term, while the Relative Strength Index (RSI) continues to release positive signals after moving out of overbought territory. These factors collectively support the likelihood of spot gold prices maintaining a positive trend in the near future, despite current market volatility.April 21st, Futures News: Economies.com analysts latest view: WTI crude oil futures have exhibited volatile trading recently, partially retaining the gains made at the start of yesterdays session despite continued negative pressure. Currently, prices are moving along a short-term bearish corrective trendline, reflecting an overall downward bias. This situation is further reinforced by prices trading below the 50-day EMA, which acts as dynamic resistance. Meanwhile, the Relative Strength Index (RSI) continues to release negative signals after reaching overbought levels, supporting the possibility of further declines in WTI crude oil futures in the short term.April 21st, Futures News: Economies.com analysts latest view: Brent crude oil futures are fluctuating, with prices continuing to move along the short-term downward correction trendline and supported by the price remaining below the EMA50 moving average, reducing the likelihood of a strong rebound in the short term. The Relative Strength Index (RSI) has released a negative signal after being overbought, further increasing bearish pressure and indicating limited bullish momentum; the market is more likely to resume its downward trend.

E-mini S&P 500 Index (ES) Futures Technical Analysis

Jimmy Khan

May 16, 2022 10:35

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Following a solid cash market finish, June E-mini S&P 500 Index futures are trading higher late in the session on Friday. Following up on Thursday's comeback bounce, the move shows follow-through purchasing. The recent price action is symptomatic of short-covering as buyers attempt to prevent the benchmark index from plunging into bear market territory, with the fundamentals remaining negative and the daily chart pattern looking awful.


In the cash market, the S&P 500 had its best day since May 4 on Friday. Despite these advances, the index dropped 2.4 percent, marking the longest weekly loss streak since 2011.


Consumer discretionary and information technology gained 4.1 percent and 3.4 percent, respectively, to lead the S&P 500 sectors higher. With over 95% of the S&P 500 closing the day in the green, it was a broad-based rally.

Technical Analysis of the Daily Swing Chart

According to the daily swing chart, the major trend is down. The return of the decline will be signaled by a trade through 3855.00. The major trend will turn to up if 4303.00 is broken.


4303.00 to 3855.00 is the minor range. The first probable upward target range is the retracement zone between 4079.00 and 4132.00.


3855.00 to 4036.00 is a second minor range. The closest intraday support is at 3945.50, which is the pivot's pivot.

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