Tuesday, June 20, 2017

S&P 500 (Americas, USA) - 'Weekly Technical Analysis' - 2458 again - Week 3 of June 2017.

Zoom into chart .. 

Learning from last Week:  (click here for the previous post)

Index after its take off from Support at the Tenkan Sen (Blue) nears resistance at 2458.
2458 is a confluence of two Retraces, 162% and 200% as above.
Bulls make a green candle last week, showing intent and strength to take on 2458.


Bulls after making a Higher High, erase the 'Three inside down' option.

Looking forward into this Week:

Bears seek to hold down 2458, to get back into the game.
Bulls after taking off from the Tenkan Sen, need to clear 2458 to keep the current trend.
Index Support and Resistance possibilities are marked as above. 

Bulls look to make new ATHs, staying above current support at the Tenkan Sen (blue line).
Bears seek to keep it below 2458