Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: S&P500 trades slightly above 200- day MA, jump til 2820 likely

Short term trend  Slightly bullish

 

Major resistance  2820

S&P500 is trading higher for third consecutive day and jumped more than 180 points from low of 2603. The index broken major resistance 2761 (200- day MA) and jumped more than 25 points. It is currently trading at 2777 (0.68% higher).

 

The index’s near term resistance is around 2820 and any break above targets 2850/2900. Any break above 2821 confirms minor bullishness.

 

On the lower side, near term support is around 2735 and any break below targets 2700/2680.

 

It is good to buy on dips around 2760-65 with SL around 2735 for the TP of 2821/2845.

 

 

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.