Daily Analysis of S&P 500 for April 25, 2016
The H1 chart structure on this Index is telling us about a possible bullish advance in order to re-test the April 20th highs. However, we saw that the S&P 500 did a rebound above the support zone of 2080, where a bullish trend line is located, that is supporting the Index at present. The RSI indicator is in neutral territory and this could be a sign of possible uncertainty during this week on S&P 500.
Trading recommendations for today:
Based on the H1 chart, place buy (long) orders only if the S&P 500 breaks a bullish candlestick; the resistance level is at 2094.7, take profit is at 2101.1, and stop loss is at 2088.4.
The material has been provided by InstaForex Company - www.instaforex.com