S&P 500 INDEX
- S&P 500 Index moving up from strong trend line support zone as shown in graph no 1. this indicates as long as index holds above it will favor bulls. But if index breaks its trend line support and closes below 1905 then bears will get active and further weakness is expecting in S&P 500 index.
- Intraday close below if Index breaks and stays below 1905 then intraday weakness is expecting.
- Suggested Reading - DOW JONES Index moving up from strong trend line and moving average support zone.
- Index is also moving up from 100 days moving average support zone as shown in graph no 2. Index will be favored by bulls as long as it holds above. By looking at chart closely it indicates that from last 3 times S&P 500 index test its 100 DMA and moved up and this time too. Close Watch.
- If Index moves up from current levels then will find next strong resistance around 1938, 1948 and 1958 its fibonacci retracement resistance as shown above in chart no 3.
- Click here to see all the forecast (trading strategy) published by us on S&P 500 Index.
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