Major support – 2320 (Mar 27th low). S&P 500 made a low of 2321 on Mar 27th 2017 and jumped slightly from that level. The index rised till 2378 and started to decline from that level. Short term trend is slightly weak as…
S&P 500 made a low of 2321 on Mar 27th 2017 and jumped slightly from that level. The index rised till 2378 and started to decline from that level.
Short term trend is slightly weak as long as resistance 2400 holds.
On the higher side, nearby resistance is around 2338 (55- day EMA) and any break above will take the index till 2355 (21- day MA)/2378 (Apr 5th 2017 high).
The immediate major support is around 2320 and any break below targets 2300/2260 (38.2% retracement of 2400 and 2030).
It is good to sell below 2320 with SL around 2340 for the TP of 2260.
