TipTVFinance

S&P500 - Channel line established

INDEX:SPX   S&P 500 Index
Resistance - 2078, 2090, 2100

Support - 2062, 2050, 2022

  • Friday's rebound from 2050 has led to channel formation on the daily chart . Given the rally in Asian and European equities on account of falling Brexit bets, the index is likely to open higher today.
  • Break above 50-DMA of 2078 could result in a 2090 levels.
  • On the downside, a break below channel support would add credence to the last week's retreat triggered by bearish price rsi divergence and expose trend line support at 2022 levels.
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