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 taken
positive support at 2168—2170 and showed some upside move as it opened
positively at 2169 and from there made high of 2177 before closing the improved
session at 2176 with gain of 6.25 points or increase of 0.29% to the index.
S&P
500 has crucial immediate resistance intact 2195--2200. 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
54.and increasing also suggest that S&P 500 may improve trend and if
consecutive closes around 2175 and weekly close above 2175—2170 will make a
case for upside move if a strong support is made at current level.
MACD of
positive 5.89 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.
