December 12, 2011

SPY Support and Resistance levels

  • Resistance for SPY in daily chart are the 200 SMA and the Top bollinger band.
  • Price closing above 200 SMA and above the Top Bollinger band may give a sustained up move.
  • For bears price need to break below 20 and 50 SMA. Indicators like stochastic has reached overbought levels, If price closes below crucial moving averages SPY may star to slide.

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