JZ_Trading

SPX - Support & Resistance

SP:SPX   S&P 500 Index
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Friday's session was like, Market started the correction phase before it goes to the 3000 level. Last week the Renko chart showed us the 2860 area as a strong resistance & spend three whole days up there. In fact many doji candles were appearing near that level which is a sign of indecision. The area around 2800 is acting like the loading zone for buyers to spin it higher. Hence from the Renko chart I expect the market to travel somewhere near the following levels:

Resistance

2860
2849
2835

Support

2821
2814
2803
2794
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