Michael_Macdonald-XATSUK

US S&P500 SPX coming under further pressure

SP:SPX   S&P 500 Index
Short-term corrective gains from the 2326.50, (23.6%) Fibonacci retracement are underway.
Immediate focus is on the 2390.01 high of 15 March, but difficulty is seen maintaining any tests, as momentum studies and the bearish Tension Indicator (not seen) continue to weaken.

Increased selling pressure is expected to keep prices under pressure, with a later break below the 2319.23 gap low of 10 February looked for. This will then target the 2282.10 break level from January and 2280~, (38.2%) Fibonacci retracement . A further close beneath here would turn currently bullish investors neutral and open up critical support at the 2233~ low of 30 December 2016.

A close above the 2400.98 monthly high of 1 March would delay downside tests, but strong resistance at the 2450/67~ barrier is expected to provide a barrier and promote fresh selling pressure.
English (UK)
English
English (IN)
Deutsch
Français
Español
Italiano
Polski
Türkçe
Русский
Português
Bahasa Indonesia
Bahasa Melayu
ภาษาไทย
Tiếng Việt
日本語
한국어
简体中文
繁體中文
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out