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Short

S&P 500 faces strong resistance around 2060, targets 2002/1968

FX:SPX500   S&P 500 index of US listed shares
222 0 6
Major resistance – 2060 (trend line joining 2116 and 2106)

Major support 2024 (trend line joining 1922 and 1968)

S&P500             has retreated after making a high of 2057. It is currently trading around 2030.

Short term trend is slightly bearish as long as resistance 2060 holds.

Any break above 2060 will take the index up to 2075/2084/2105 in short term. The minor resistance is around 2040/2050 level.

On the lower side any break below 2024 will drag the index down till 2005/1968.

StochRsi- Sell

MACD- Sell

It is good to sell on rallies around 2030-2035 with SL around 2060 for the TP of 2002/1968
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