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FxWirePro: S&P 500 consolidates in narrow range, good to sell on rallies

S&P 500 consolidating in narrow range between 2100 and 2080 for past two trading session Major intraday Support - 2080-2085 (200 day HMA and 30th Nov low) Demand zone- 2100-2108 On the lower side any break below 2080 wil…

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FxWirePro: S&P 500 consolidates in narrow range, good to sell on rallies
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  • S&P 500 consolidating in narrow range between 2100 and 2080 for past two trading session
     
  • Major intraday Support - 2080-2085 (200 day HMA and 30th Nov low)
     
  • Demand zone- 2100-2108
     
  • On the lower side any break below 2080 will drag the index till 2060/2045 level.
     
  • The index major resistance is around 2108 and any break above will drag the index further up till 2120/2137.

It is good to sell on rallies around 2090-2095 with SL around 2108 for the TP of 2061/2045

 

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