S&P500 Technical Analysis: Bears take the lead – Trading below 2,840.00

By | August 10, 2018
  • The S&P500 declined as far as the 2,825.00 support on the last day of the week. 
  • Bulls managed to bring the market back above the 2,835.25 level suggesting that they might try to retake the current weekly high in the next sessions.
  • Next week bears objective will be to break below 2,825.00 support in order to target 2,810.00 demand level. Resistances become the 2,845.00 supply/demand level and 2,853.00 August 9 low.

S&P500 15-minute chart 

S&P500 daily chart 

Spot rate:                  2,838.50
Relative change:       -0.47%     
High:                         2,851.25
Low:                          2,825.25

Trend:                       Bullish / Bearish reversal attempt below 2,852.00

Resistance 1:           2,845.00 supply/demand level
Resistance 2:           2,853.00 August 9 low
Resistance 3:           2,863.75 August 7 high
Resistance 4:           2,875.50 all-time-high
Resistance 5:           2,900 figure

Support 1:                2,825.00 August 3 low
Support 2:                2,810.00 demand level
Support 3:                2,798.50 July 30 low

Powered by WPeMatico