Major intraday resistance -2010 (Hourly Kijun-Sen)
Major intraday support- 2000
Pattern Formed (Hourly chart)- Bullish divergence (CCI (50) and RSI (14)
The index has recovered after making a low of 1989. It is currently trading around 2012.80.
The S&P500 is trading slightly well above 2010 (hourly Kijun-Sen) and a jump till 2026 (55 H EMA)/2040 (61.8% retracement of 2072 and 1989).
The index should break above 2072 for the bearish trend from 2127 till 1989 to complete. Any break above 2072 targets 2100/2120/2127.
On the lower side , major support is around 2000 and break below will drag the index down till 1989/1972/1960.
It is good to buy at dips around 2010 with SL around 2000 for the TP of 2026/2040
Major intraday support- 2000
Pattern Formed (Hourly chart)- Bullish divergence (CCI (50) and RSI (14)
The index has recovered after making a low of 1989. It is currently trading around 2012.80.
The S&P500 is trading slightly well above 2010 (hourly Kijun-Sen) and a jump till 2026 (55 H EMA)/2040 (61.8% retracement of 2072 and 1989).
The index should break above 2072 for the bearish trend from 2127 till 1989 to complete. Any break above 2072 targets 2100/2120/2127.
On the lower side , major support is around 2000 and break below will drag the index down till 1989/1972/1960.
It is good to buy at dips around 2010 with SL around 2000 for the TP of 2026/2040
