Pages

S&P 500 Analysis after close

  • First chart is the daily time frame which shows immediate support and resistance lines.
  • Weekly chart shows price still inside an ascending channel. Stochastic is overbought but its still above 80% line which should favor bulls to resume the up move. Breaking below 80% line may give a bigger fall.
  • SPX Month chart shows bulls unable to close the candle above the wedge resistance line. Bulls need to make another attempt to move above the resistance line or face correction towards the support line shown in last chart.


Posted by San at 9:03 AM

0 comments:

Post a Comment

DISCLAIMER

All the contents of niftychartsandpatterns are for educational purposes only and are not Investment Advice or recommendations offered to any person(s) with respect to the purchase or sale of the stocks / futures. Niftychartsandpatterns shall not be held responsible for the actions of individuals, parties, or corporations taken in response to the ideas, thoughts, concepts or information presented in this blog. Hence all the visitors are requested to apply their prudence and consult their financial or investment adviser before acting on any of the Ideas in this blog.