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S&P500 Analysis 04/19/20

OANDA:SPX500USD   S&P 500 Index
This stock market index is currently up 30%+ from the lows. The direction of the index is highly dependent on the welfare of the US and the pandemic. Looking from a technical point of view, the S&P needs to break out of the ascending trend line before looking for shorts. Also, price recently broke a resistance level and is now retesting it. If it serves as support, price could head back up to major pivotal levels, like the nearby one just over $3100.