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 saw a positive trading session as S&P 500 opened positively
at 2075 and then made high of 2100 among positive BREXIT news coming from
Europe and hence closed at 2083 with gain of 12 points or increase of just 0.58
% to the index and this shows that S&P 500 has been moving in sideways and
building momentum to improve its short term trend.
S&P 500 has crucial immediate
resistance 2090--2103. If this level is positively sustained and breached then
one see next Resistance at 2125--2130.
S&P 500 Support is also
intact at 2066—2060 .If this is breached negatively and not sustained then one
see next support building around 2050--2045 level.
RSI of 50 and increasing also
indicate that short term trend is towards consolidation and correction may the
theme for S&P 500 as investors are booking profit among uncertain economic
and global scenario.
MACD of positive 2.05 and
decreasing also indicate that short
term trend is towards correction and profit booking.
More Will Update Soon!!
