CME Attempts a Breakout
CME Group could be attempting a breakout as the broader market struggles.
Notice how the exchange operator snuck above $231 a month ago, overcoming resistance from early November.
Second, CME pulled back and held the level on February 24 (after Russia invaded Ukraine). The 50-day simple moving average (SMA) was also coming up from below. Prices followed by making a higher low on March 1. (Notice the white arrows.) Both times, buyers quickly stepped in.
Third, the 8-day exponential moving average (EMA) has remained above the 21-day EMA.
Finally, MACD is attempting to turn positive again.
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Investing involves risks. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options, futures, or digital assets); therefore, you should not invest or risk money that you cannot afford to lose. Before trading any asset class, first read the relevant risk disclosure statements on the Important Documents page, found here: https://www.tradestation.com/important-information.
Notice how the exchange operator snuck above $231 a month ago, overcoming resistance from early November.
Second, CME pulled back and held the level on February 24 (after Russia invaded Ukraine). The 50-day simple moving average (SMA) was also coming up from below. Prices followed by making a higher low on March 1. (Notice the white arrows.) Both times, buyers quickly stepped in.
Third, the 8-day exponential moving average (EMA) has remained above the 21-day EMA.
Finally, MACD is attempting to turn positive again.
TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
Important Information
TradingView is not affiliated with TradeStation Securities Inc. or its affiliates. TradeStation Securities, Inc., TradeStation Crypto, Inc., and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., all operating, and providing products and services, under the TradeStation brand and trademark. When applying for, or purchasing, accounts, subscriptions, products and services, it is important that you know which company you will be dealing with. Please click here for further important information explaining what this means.
This content is for informational and educational purposes only. This is not a recommendation regarding any investment or investment strategy. Any opinions expressed herein are those of the author and do not represent the views or opinions of TradeStation or any of its affiliates.
Investing involves risks. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options, futures, or digital assets); therefore, you should not invest or risk money that you cannot afford to lose. Before trading any asset class, first read the relevant risk disclosure statements on the Important Documents page, found here: https://www.tradestation.com/important-information.
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