April 10, 2012

S&P 500 Analysis after closing bell

 

  • For bulls price need to sustain above 50 Day SMA and the trend line shown in 2nd chart.
  • 1370 was the previous resistance level in weekly chart which may act as support now. Bears need a close below this level to extend the fall towards 1350 levels.
  • A bullish candle near 50 SMA should help bulls to continue the up trend again.



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