S&P 500 Long-Term Technical Analysis: on the border between the bearish and bullish

S&P 500 Long-Term Technical Analysis: on the border between the bearish and bullish

2 December 2015, 12:11
Sergey Golubev
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The price is located above 100 period SMA (100 SMA) and 200 period SMA (200 SMA) with the ranging within the following support/resistance levels:

  • 2134.4 resistance level located above 100 SMA and 200 SMA in the primary bullish area of the chart, and
  • 1863.1 support level located within 100 SMA and 200 SMA on the border between the primary bearish and the primary bullish trend.


RSI indicator is estimating the secondary ranging market condition.


  • If the price will break 2134.4 resistance level so the bullish trend will be continuing.
  • if price will break 1863.1 support so the bearish reversal will be started with the secondary ranging.
  • if not so the price will be ranging within the levels.
Resistance
 Support
2116.21863.1
2134.4N/A
The Long-Term Strategy: watch close price to break 2134.4 resistance level for possible buy trade. Alternateve - watch price to break 1863.1 support level for possible sell trade
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