Friday 17 August 2018

S&P500 Index: SPX close to major resistance zone:2872!

S&P500 Index: SPX close to major resistance zone:2872!

SPX rallied strongly after finding support at old cloud chart support zones 2573. There was a secondary buy signal at cloud support test of 2643. The index is now close to old high resistance zone of 2872. If resistance holds, index can consolidate back down to 2800/2777 cloud support levels.

Consolidation risk remain high at these elevated levels!


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