S&P500 faces strong resistance at 1900, break above targets 1956
Major resistance -1900 (55 day 4H EMA and cloud top)
S&P500 has made a high of 1898 and slightly retreated from that level. It is currently trading at 1893.
Any break above 1900 will take the pair till 1927/1945/1956.
On the downside minor support is around 1870 and break below will drag the index down till 1835/1810/1785.
Overall bearish invalidation only above 2000 (55 day E MA).
It is good to buy only above 1900 with SL around 1870 for the TP of 1927/1956.
S&P500 has made a high of 1898 and slightly retreated from that level. It is currently trading at 1893.
Any break above 1900 will take the pair till 1927/1945/1956.
On the downside minor support is around 1870 and break below will drag the index down till 1835/1810/1785.
Overall bearish invalidation only above 2000 (55 day E MA).
It is good to buy only above 1900 with SL around 1870 for the TP of 1927/1956.