February 28, 2012

S&P 500 Resistance line

  • SPX Hour with possible resistance line.
  • for the current up move price should hit the resistance line near 1377 - 78 levels.
  • for a correction price has to break below the dotted line as shown in the chart.
  • Price is staying above the monthly resistance level so the chance of the resistance line getting broken in favor of bulls is there.

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