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S&P500 faces strong resistance at 1900, break above targets 1956

  • Major resistance -1900 (55 day 4H EMA and cloud top)
     
  • S&P500 has made a high of 1898 and slightly retreated from that level. It is currently trading at 1893.
     
  • Any break above 1900 will take the pair till 1927/1945/1956.
     
  • On the downside minor support is around 1870 and break below will drag the index down till 1835/1810/1785.
     
  • Overall bearish invalidation only above 2000 (55 day E MA).

It is good to buy only above 1900 with SL around 1870 for the TP of 1927/1956.

 

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