Quick Technical Overview - S&P 500: intra-day correction; 1,890 is important
by
, 03-01-2016 at 07:28 PM (1321 Views)
H1 price is located to be above 100 period SMA (100 SMA) and 200 period SMA (200 SMA) in the bullish area of the chart: the secondary correction was started by the price for trying to break 1,928 support level to below for the secondary correction to be continuing.
- If the price will break 1,962 resistance level so we may see the bullish trend to be continuing.
- If price will break 1,890 support so the reversal of the intra-day price movement from the primary bullish to the primary ebarish market condition will be started.
- If not so the price will be ranging within the levels.
Resistance Support 1,962 1,928 N/A 1,890
- Recommendation to go short: watch the price to break 1,890 support level for possible sell trade
- Recommendation to go long: watch the price to break 1,962 resistance level for possible buy trade
- Trading Summary: correction
SUMMARY : correction
TREND : primary bullish