CHART - 2
- 20 Hour moving average broken and the index is moving towards the lower end of the range as discussed below.
CHART - I
- S&P 500 may trade in a range of 1039 - 1065 for sometime to come.
- Right now the index is resting at the 20 hour moving average and below 50 hour moving average.
- If 20 hour moving average does not give support index may move to the lower end of the trading range.