June 20, 2012

S&P 500 Analysis after closing bell

  • Falling wedge is doing well so far. But price was unable to clear 1357 - 1359 level on closing basis which is slightly negative. If the up move continues above this level then we might see 1415 level.
  • Golden ratio and 200 period SMA of four hour has managed to halt the up move. Bulls must cross these levels on closing basis for moving up further.Unable to cross these levels should result in a fall towards 1335 levels again.

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