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
with a gap up open at 2006 and then made high of 2036 as investors finding confidence in S&P 500
and entered at lower levels and tried to improve its short term trend and
gained some upside momentum and finally closed a positive session at 2036 with
gain of 35 points or increase of 1.78% to the index.
S&P 500 has crucial immediate
resistance 2045--2050. If this level is positively sustained and breached then
one see next Resistance at 2066--2072.
S&P 500 Support is also
intact at 2005--2000 .If this is breached negatively and not sustained then one
see next support building around 1990--1980 level.
RSI of 41 and increasing also
indicate that short term trend is towards is improving as markets seems to have
factored in all the negative news and looking to build upside momentum.
MACD of negative 8.97 and improving also indicate that short term trend is may
be improving. But traders should maintain caution.
More Will Update Soon!!
