S&P500 has formed temporary top around 2453 on Jun 19th 2017 and declined slightly from that level till 2430. It is currently trading around 2435.9. On the lower side, near term support stands at 2430 and any break below…
S&P500 has formed temporary top around 2453 on Jun 19th 2017 and declined slightly from that level till 2430. It is currently trading around 2435.9.
On the lower side, near term support stands at 2430 and any break below will drag the index down till 2415 (Jun 9th low)/2403 (May 31st low).
The temporary top formed around 2453 will be acting as major resistance and any break above will take the index till 2470 (161.8% retracement of 2453 and 2403)/2500. The minor resistance is around 2446.
Short term bullish invalidation only below 2320 level.
It is good to sell below 2430 with SL around 2446 for the TP of 2403/2380.
