S&P 500
S&P 500 has been in habit of
following our mentioned and analysed technical levels and it has been doing it
as last session we again saw S&P 500 show a highly bearish session as
BREXIT and Sterling kept hurting market sentiments and therefore opened lower
at 2031 and from there cracked to make a low of 1991 and then finally closed
the bearish session at 2000 and shredded almost 36 points or decrease of 1.81%
to the index.
S&P 500 has crucial immediate
resistance 2040--2045. If this level is positively sustained and breached then
one see next Resistance at 2066--2070.
S&P 500 Support is building
around 1990--1988 .If this is breached negatively and not sustained then one
see next support building around 1975--1970.
RSI of 31 and decreasing shows
that buyers are not finding confidence in market and have a hawkish approach as
news of BREXIT could create some momentum panic for few session as global
uncertainty increases.
MACD of negative 6.83 and also
indicate that short term trend is very weak. But traders should maintain
caution as BREXIT could negatively impact S&P 500 for few session more
session as investors are not finding any confidence.
More Will Update Soon!!
