anyoption
Short

S&P 500 Continue falling?

FX:SPX500   S&P 500 index of US listed shares
601 1 5
The Daily trend is in a Downtrend technically indicated by following:
• Dow pattern- lower tops and lower bottoms (T1-B1-T2-B2).
• Price is currently trading BELOW the downtrend line.
Prices are trading above the support level at 1930.0.
RSI:
RSI is below the equilibrium level 50. Bearish momentum .

We should take under consideration that prices are below the SMA200 and the 2042.0 we will consider short positions.

1. In case of a daily close below the support level at 1930.0:
We will recommend SHORT POSITIONS for the no position holders on S&P 500             . Take profit.1 at 1904.0 and take profit.2 at 1830.0. Stop loss should be a bit above the support level at 1930.0, thus the stop loss is at 1942.0-1960.0.
For Short-holders we will recommend to HOLD their short positions and adopt the same stop loss and take profit orders as mentioned above.
2. In case of a move above the resistance area at 2000.0-2020.0 (R1), we will recommend long positions.
BonBoBin PRO
a year ago
Thank's. I get your horizontal level. I think too that SPX500 down trend
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