Ming Jong Tey
Independent Analyst
Find out how to trade the double bottom pattern the price action way with volume spread analysis in the market outlook section.
Check out the video for a complete walk through of the daily market analysis of S&P 500 futures (ES) for 16 Nov 2020 trading session. In this video, you will find out the market recap during the last session and trade reviews in the three-minutes timeframe (including entry, exit and the rationale behind). Going forward, I will cover the bias, the key levels to pay attention to, my trading plan for the session later.
Watch my daily market analysis video in the last session if you haven’t in order to better relate to the market recap and the trade review.
Bias — neutral (Day trading); bullish (long term)
Key levels — Resistance: 3660; Support: 3587, 3500.
Potential setup — Look for potential reversal at the key levels.
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
AUD/USD: A decent hurdle remains around 0.6400
AUD/USD’s two-day rebound halted on Tuesday following another failed attempt to assault the 0.6400 region, all despite the persistent sell-off in the Greenback ahead of the FOMC event.
EUR/USD leaves the door open to further advances
EUR/USD rose for the third straight day, clinching fresh 2025 peaks past the 1.0950 level amid further selling mood hurting the US Dollar and auspicious news from the German parliament.
Gold pressures record highs, aims to extend gains
Gold prices maintain their constructive bias well in place on Tuesday, now receding somewhat following earlier record peaks near the $3,040 mark per troy ounce in response to mitigating geopolitical effercescense around the Russia-Ukraine crisis.
Bitcoin is dead: Expect a rally to $166k
Indeed, based on the Bitcoin Fear and Greed Index, which has been at Fear to Extreme Fear levels for almost a month now, one would assume that Bitcoin (BTCUSD) is dead.
Tariff wars are stories that usually end badly
In a 1933 article on national self-sufficiency1, British economist John Maynard Keynes advised “those who seek to disembarrass a country from its entanglements” to be “very slow and wary” and illustrated his point with the following image: “It should not be a matter of tearing up roots but of slowly training a plant to grow in a different direction”.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.