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SP500 Technical Analysis 12 March 2018

2018-03-12 01:02 am | Resource: Technical Analysis | No Views : 431

Time frame Used - four hours
The S & P 500 is moving in a bullish direction in the near term
The purchasing power managed to control the S & P 500 to bounce the S & P 500 index to reach the resistance level of 2788, trying to penetrate this level to upside
 And looking at  the technical indicators
Both the RSI and the Stochastic are indicating to the arrival of indicators into the overbought area
 Therefore, we expect that  the S & P 500 will  test the level of 2734 and then return to the upside to target 2805-2286 levels
The alternative scenario is that  the S & P 500 breach level of 2788 to target 2836 level directly
Resistance: 2788 - 2836 - 2876
Support: 2734 - 2680 - 2646
Direction: Up

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