Thursday, October 15, 2026

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S&P500 faces strong resistance around 1990, break above targets 2045

Major resistance - 1990 (trend line joining 1931 and 1946) Major support - 1960 The index has slightly recovered after making a low of 1968. It is currently trading around 1987. Any break above 1990 will confirm minor bu…

By Lis Howell
1 min read
S&P500 faces strong resistance around 1990, break above targets 2045
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  • Major resistance - 1990 (trend line joining 1931 and 1946)
     
  • Major support - 1960
     
  • The index has slightly recovered after making a low of 1968. It is currently trading around 1987.
     
  • Any break above 1990 will confirm minor bullishness, a jump till 2025/2042 in short term.
     
  • Minor weakness can be seen below 1960 and break below targets 1942/1920.
     
  • Short term bullish invalidation only below 1890.

It is good to buy above 1990 with SL around 1960 for the TP of 2023/2045

 

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