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S&P500 faces strong resistance around 1941, break above targets 1984/2000

  • Major resistance - 1941 (55 day EMA and also trend line joining 1946.7 and 1937)

  • Major support - 1890

  • The index has made a high of 1937 and slightly retreated from that level. It is currently trading around 1925.

  • Any break above 1941 will take the index till 1965/1984/2000.

  • On the lower side major support is around 1890 and break below targets 1870/1851.the minor support is around 1915.

It is good to buy above 1941 with SL around 1915 for the TP of 1965/1984/2000.

 

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