S&P 500
S&P 500 has been in habit of
following our mentioned and analysed technical levels and it has been doing it
for long time as it opened positively at 2100 and made high of 2113 on account
of improving global and economic news especially FED policy and hence closed at
2109 with 10.28 points or increase of 0.49% to the index. .
S&P 500 is
looking positive for short term as it has been moving at mentioned level and
respecting it. S&P 500 is trading at upper Bollinger band limit and may see
some correction if band is breached. Overall S&P 500 trend is positive.
S&P 500 has crucial
Resistance intact at 2113.If this level is positively sustained and breached
then one see next Resistance at
2125—2131.
S&P 500 Support is also
intact at 2090—2088.If this is breached negatively and not sustained then one
see next support building around 2078—2075 level.
RSI of 63 also indicate that
S&P 500 is may now be entering a
bull phase as buyers are entering S&P 500 among improving global and
economic scenario and this trend may pick up momentum if current trend is sustained
and momentum continues.
MACD of positive 11.32 and
increasing also indicate that trend may be becoming highly bullish for short
term.
More Will Update Soon!!
