Daily Analysis of S&P 500 for March 30, 2016
The SP 500 is moving inside a very strong bullish bias in the short-term and is currently dealing with the strong resistance zone around the 2055 level. If the Index succeeds in breaking it, then an advance towards 2060 is highly probable in the coming days. However, a pullback towards the pivot point level of 2037.2 cannot be discarded.
Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the SP 500 breaks a bullish candlestick; the resistance level is at 2055, take profit is at 2061, and stop loss is at 2048.
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