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SP500 Technical Analysis 16 April 2018

2018-04-15 10:05 pm | Resource: Technical Analysis | No Views : 109

 
Time Frame Used - Daily
The S & P 500 is moving in a sideway in the near-term
SP500 CHART
The S & P 500 is still facing resistance around level of 2677
  In view of the technical indicators
Both the RSI and the Stochastic are indicating to a weakness of the indicators
  Accordingly, we have to monitor level of 2677 as in case of a break above. We expect that  the S & P 500 will  test level  of 2723-2783
The alternative scenario is that the S & P 500 drop to levels of 2584-2531
Resistance: 2677 - 2723 - 2783
Support: 2584-2531-2490
Direction: sideway

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