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S&P500 faces resistance at 1910, break above targets 1954/1975

Major resistance- 1910 (trend line joining 1954 and 1916). The index is facing strong resistance around 1910 and any break above will take the index to next level till 1955/1973 (200 day 4 HMA). On the lower side minor s…

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S&P500 faces resistance at 1910, break above targets 1954/1975
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  • Major resistance- 1910 (trend line joining 1954 and 1916).
     
  • The index is facing strong resistance around 1910 and any break above will take the index to next level till 1955/1973 (200 day 4 HMA).
     
  • On the lower side minor support is around 1880 (trend line joining 1810 and 1871) and minor weakness can be seen below this level.  
     
  • Break below targets 1864/1852. Short term bullish invalidation only below 1800.

It is good to buy above 1910 with SL around 1880 for the TP of 1954/1975

 

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