S&P 500
S&P 500 has been in habit of
following our analysed and mentioned level and it did so in previous session
also as it opened at 2095 and from there it made low of 2089 before closing at
2090 with 0.27% decrease to index.
S&P 500 is trading on
expected term as it has been positive for some time and currently in correction
or profit taking mode as S&P 500 trading near upper Bollinger band limit
and trading with expected weakness for short term.
S&P 500 settled near crucial
resistance of 2090.Resistace is intact at 2090—2103.If this level is positively
breached then one see next resistance around 2110—2125
S&P 500 has support building
around 2083—2085.If this level is breached negatively and not sustained then
one see support building around 2077—2075.
RSI of 58 also indicate that
momentum is not strong and short term consolidation and correction is eminent.
MACD of 10.54 also indicate that
trend is weak for short term as investors are booking profit at current S&P
500 level.
More Will updates Soon!!
