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 2112 and made high of 2120 among improving global and economic
scenario and closed at 2119 with 7 points or increase of 0.33% to the index.
S&P 500 is looking strong on charts and trading near
upper Bollinger band limit and has been trading on expected terms and looking
to sustain its upside momentum.
S&P 500 has crucial resistance intact at
2125. If this level is positively sustained and breached then one see next
Resistance at 2135—2140.
S&P 500 Support is also
intact at 2103--2100.If this is breached negatively and not sustained then one
see next support building around 2090—2088 level.
RSI of 65 and increasing 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 13.45 and
increasing also indicate that trend may be becoming highly bullish for short
term.
More will Update Soon!!
