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 at 2104 and could not breach its immediate
resistance of 2105 and traded weak or in consolidation mode as it made low of
2085 before finally closing at 2099 shredding 6 points or a decrease of 0.29%
to the index.
S&P 500 has crucial
Resistance intact at 2105—2110.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 59 also indicate that
S&P 500 is in consolidation phase as bulls are waiting for all global and
domestic news to clear and then they may enter aggressively.
MACD of positive 10.20 also
indicate short term consolidation or correction as Bulls are still hawkish
among global uncertainty.
More will Update Soon!!
