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Add as a preferred source on Google FxWirePro: S&P500 faces strong resistance 2070, good to sell on rallies Major support - 2045 Major resistance - 2070 Short term trend reversal Level- 2085 The index has retreated after making a high of 2065. It is currently trading around 2047. Any break below 2045 will drag the index down t…
By FxWire Pro May 6, 2016, 6:43 AM UTC
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Major support - 2045
Major resistance - 2070
Short term trend reversal Level- 2085
The index has retreated after making a high of 2065. It is currently trading around 2047.
Any break below 2045 will drag the index down till 2023/2015/2006.
Minor trend is weak as long as resistance 2070 holds. Any indicative break above 2070 will take the index till 2073 (200 HMA)/2085.
It is good to sell on rallies around 2053-55 with SL around 2070 for the TP of 2023/2008
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