SPX, D1

On the D1 chart, the instrument grows along the upper line of Bollinger Bands and the price range is widened, which indicates a possible continuation of the uptrend. MACD histogram is in the positive area. The signal line is crossing the body of the histogram from below forming a signal for opening long positions. Stochastic crossed the border of the overbought area from above and the signal line of the oscillator is directed downwards.

SPX, H4

On the H4 chart the instrument is traded in a lateral channel formed by the upper and center lines of Bollinger Bands. MACD histogram is in the positive area keeping a signal for the opening of long positions. Stochastic is in the neutral zone, and the lines of the oscillator are directed downwards.

Key levels

Support levels: 2813.8, 2809.9, 2804.2, 2798.1, 2793.2, 2789.7, 2788.0.

Resistance levels: 2819.7, 2824.4, 2828.4.

Trading tips

According to technical indicators, long positions could be opened from the current level with target at 2828.0 and stop loss at 2810.0.

Short positions may be opened from the level of 2802.0 with target at 2793.2. Stop loss — 2809.0.

Implementation period: 1-3 days.

S&P500 index of the American stock exchange

BuySellSpread
2604.22598.656

Scenario

TimeframeDay's Range
RecommendationsBUY
Entry Point2816.9
Take Profit2828.0
Stop Loss2810.0
Support levels2788.0, 2789.7, 2793.2, 2798.1, 2804.2, 2809.9, 2813.8, 2819.7, 2824.4, 2828.4

Alternative scenario

RecommendationsSELL STOP
Entry Point2802.00
Take Profit2793.2
Stop Loss2809.00
Support levels2788.0, 2789.7, 2793.2, 2798.1, 2804.2, 2809.9, 2813.8, 2819.7, 2824.4, 2828.4
SPX: technical analysis

The material published on this page is produced by the Claws&Horns Company and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC; furthermore it has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibition on dealing ahead of the dissemination of investment research.

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