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 2092 and then made high of 2113 among positive BREXIT news coming from
Europe and hence closed at 2113 with gain of 28 points or increase of just 1.34
% to the index and this shows that S&P 500 has gained momentum and we saw
increased volume in S&P 500 on closing basis. Traders should maintain
caution as BREXIT news can negatively impact S&P 500 as BREXIT has happened
as declared by ITV and BBC and Britain becomes first country to leave European
Union. Expect some volatility in market for some time.
S&P 500 has crucial immediate
resistance 2120--2125. If this level is positively sustained and breached then
one see next Resistance at 2035--2040.
S&P 500 Support is also
intact at 2103--2099 .If this is breached negatively and not sustained then one
see next support building around 2090--2088 level.
RSI of 61 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. But news
of BREXIT could create some momentum panic for few session as global uncertainty
increases.
MACD of positive 4.10 and
increasing also indicate that short
term trend is may be improving. But traders should maintain caution as BREXIT
could negatively impact S&P 500 for few session.
More Will Update Soon!!
