SPX: technical analysis
SPX, D1
On the daily chart the index is rising alongside the upper border of the Bollinger Bands indicator, trading range has expanded. The MACD histograms lays in positive area, its volumes are growing, the signal line crosses the zero line and the histogram body downwards, giving a strong buy signal. The Stochastic is in overbought area and goes alongside the neutral zone border, the oscillator lines are directed downwards. In case of border crossing there will be a strong sell signal.
SPX, H4
On the 4-hour chart the index lays between middle and upper borders of the Bollinger Bands indicator, still rising. The MACD histograms is in positive area, its volume almost stagnated at the level of 6.7, the signal line lays outside the histogram body, giving no clear signal. The Stochastic is in overbought area near the neutral area border. In case of breakout of the border there will be a strong sell signal.
Support and resistance
Support levels: 2165.1, 2151.1, 2127.3, 2106.7, 2081.2.
Resistance levels: 2195.0.
Trading tips
It is recommended to open long positions at the level of 2183.0 with the target at 2195.0. Stop loss is at 2180.0. Implementation period: 1-3 days.
It is recommended to open short positions at the level of 2165.0 with the target at 2151.0. Stop loss is at 2172.0. Implementation period: 1-3 days.