S&P 500 TECHNICAL ANALYSIS

S&P 500 TECHNICAL ANALYSIS

18 July 2014, 13:13
Ray Steve
0
133

Prices moved lower as expected after putting in a bearish Evening Star candlestick pattern at the top of a rising channel set from mid-April.


Sellers are testing support in the 1954.20, marked by a rising channel bottom set from early April. A break below that on a daily closing basis exposes the 23.6% Fibonacci retracement at 1944.20. Alternatively, a move back above the 14.6% level at 1960.10 aims for the July 3 high at 1985.90.

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