Short

S&P500: Testing a strong Resistance Cluster. Reversal possible.

S&P500 has marginally turned bullish again on its 1D technical outlook (RSI = 56.810, MACD = 26.430, ADX = 22.594) being on a short term rebound just after crossing under its 1D MA50. The 1D MA50 isn't a Support though anymore as it technically broke and closed under during the June 25th-26th Low formation. This rebound now faces a strong Resistance Cluster, the R1 and LH Zones. If rejected, the first target would be the S1 Zone (TP1 = 7,430). If the index closes under it, the next support levels are the S2 and S3. However with the 1D MA50 gone, the market should technically seek the next demand zone on the 1D MA100. That would be a -5.16% decline from the recent LH, just like the early June. Potential contact with the 1D MA100 could be, TP2 = 7,175.

See how our prior idea has worked out:

## If you like our free content follow our profile to get more daily ideas. ##

## Comments and likes are greatly appreciated. ##

InvestingScope

I trade Crypto, Forex, Indices & Commodities all from one account on PrimeXBT with TradingView charts

Register here👉 investingscope.s.gy/PrimeXBT

Contact me for Account Management (+15% monthly profit)
Telegram👉 t.me/investingscope

또한 다음에서도:

면책사항

해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.

InvestingScope

또한 다음에서도: