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S&P 500 Technical Forecast for May, 2016: key resistance level to be testing for the bullish trend to be continuing

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by , 04-26-2016 at 04:24 AM (1916 Views)
      
   
Weekly price is on bullish market condition located above Ichimoku cloud: the price is testing 2,104.75 resistance level for the bullish trend to be continuing. Chinkou Span line is located above above the price indicating the ranging condition by direction, and Absolute Strength indicator is estimating the ranging condition to be continuing in the near future.

If W1 price will break 2,012 support level on close W1 bar so the reversal of the price movement from the primary bullish to the primary bearish market condition will be started.
If W1 price will break 2,104 resistance level to above so the bullish trend will be continuing.
If not so the price will be ranging within the levels

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