S&P500: 161.8% resistance and RSI divergence
Major resistance- 2119 (161.8% retracement of 2105.4 and 2084.30)
S&P500 has broken psychological resistance 2100 and jumped till 2113.90. It is currently trading around 2111.90.
The index major resistance is around 2119 (161.8% retracement of 2105.4 and 2084.30) and any violation above will take the index till 2132/2140 (261.8% retracement of 2105.4 and 2084.30).
On the lower-side support is at 2099 and break below targets 2093/2086/2080 in short term. The index should close below 2075 (200 4H MA) for further weakness .
RSI- Bearish divergence.
It is good to sell on rallies around 2115-2118 with SL around 2140 for the TP of 2086/2080/2076
S&P500 has broken psychological resistance 2100 and jumped till 2113.90. It is currently trading around 2111.90.
The index major resistance is around 2119 (161.8% retracement of 2105.4 and 2084.30) and any violation above will take the index till 2132/2140 (261.8% retracement of 2105.4 and 2084.30).
On the lower-side support is at 2099 and break below targets 2093/2086/2080 in short term. The index should close below 2075 (200 4H MA) for further weakness .
RSI- Bearish divergence.
It is good to sell on rallies around 2115-2118 with SL around 2140 for the TP of 2086/2080/2076
