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Quick Technical Overview - S&P 500: intra-day correction; 1,890 is important

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by , 03-01-2016 at 06:28 PM (1228 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

Name:  sp500-h1-alpari-limited.png
Views: 93
Size:  20.9 KB

  • 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

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