S&P
500
S&P
500 has been in habit of following our mentioned levels and it has been doing
it for some time and traded at our mentioned levels. S&P 500 has been in
consolidation mode for quite some time and on expected note it took some
downside direction as it was trading near upper bollinger band limit and has
shown range bound weakness since then and opened in previous session at 2178
and from there made low of 2174 before closing the weak and flat session at
2174 with loss of just 3 points or decrease of 0.13% to the index.
S&P
500 has crucial immediate resistance intact 2185--2195. If this level is
positively sustained and breached then one see next Resistance at 2230—2250.
S&P
500 Support is also intact at 2160--2155.If this is breached negatively and not
sustained then one see next support building around 2150--2140.
RSI of
51.50 and decreasing also suggest that S&P 500 overall trend is towards consolidation
and we may see S&P 500 to continue the same trend unless an strong support
is made for an upside move.
MACD of
positive 4.44 and decreasing also suggest that a S&P 500 is trying to form
a strong support at current level and if this support is sustained then we may
see upside move.
More Will Update Soon!!
