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Quick Technical Overview - S&P 500: bullish ranging near Central YR1 Pivot

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by , 12-25-2015 at 02:20 PM (1079 Views)
      
   
The price is on bullish ranging between the following key levels:
  • Central Pivot at 1963.05 and
  • the first pivot resistance R1 Pivot at 2188.18.

There are the following intermediate support/resistance levels for the price on the way to the key s/r targets:

  • 2134.42 resistance level, and
  • 2006.68 support level.

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Instrument
S1 Pivot
Yearly PP
R1 Pivot
SP500 1832.78 1963.05 2188.18

If W1 price will break 2134.42 resistance level so the bullish trend will be continuing up to R1 Pivot at 2188.18 as the next target.
If W1 price will break 2006.68 support level so the secondary correction will be started with good possibility to the reversal of the price movement to the bearish market condition with next target as Central Pivot at 1963.05.
If W1 price will break Central Pivot at 1963.05 from above to below so we may see the reversal of the price movement from the primary bearish to the primary bullish market condition.
If not so the price will be ranging between the levels.

Trend:

W1 - ranging bullish

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