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SP 500 Daily Technical Analysis | 25 January 2018

2018-01-25 02:01 am | Resource: Technical Analysis | No Views : 182

Time frame Used - four hours
The S & P 500 is moving in a bullish direction in the near term
The purchasing power was able to control the movement of the S & P 500 from breaking the level of 2805 up to reach the level of 2852 where the index faces resistance and selling pressure around this level
  And looking at  the technical indicators
Both the RSI and the Stochastic are pointing to the arrival of indicators into the overbought area and the start of the decline below
  Therefore, we expect the S & P 500 to fall to 2805-2888 and then rebound back to target 2852 - 2864
Resistance: 2852 - 2864
Support: 2824 - 2805
Direction: Up
Technical Analysis
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