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SP 500 Daily Technical Analysis | 20 February 2018

2018-02-20 12:15 am | Resource: Technical Analysis | No Views : 325

Time frame Used - four hours
The S & P 500 is moving in a uptrend in the near-term
the Purchasing power was able to control the movement of the S & P 500 index to bounce up to the level of 2754 where the index faces selling pressures around this level
  And looking at  the technical indicators
Both the RSI and the Stochastic are indicating to the continued decline in indicators
  Accordingly, we expect the index to drop to 2688
The alternative scenario is to break the index to 2754 level to reach 2805
Resistance: 2754 - 2805 - 2836
Support: 2688-2627-2580
Direction: sideway

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