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S&P500 technical analysis: US stocks finally break above the 2,910.00 resistance

2019-06-19 05:30

  • The S&P500 broke above the 2,910.00 resistance after two weeks of consolidations.

  • The level to beat for bulls is seen at 2,940.00 resistance.



S&P500 daily chart



The S&P500 finally broke above the 2,910.00 resistance. The market is bullish above the main daily simple moving averages (DSMAs).





S&P500 4-hour chart



The stock index is trading above its main SMAs suggesting bullish momentum in the medium term. The 50 SMA crossed above the 200 SMA confirming the bullish action. Buyers intend to reach 2,940.00 and 2,960.00 resistances. Immediate support can be located at 2,910.00 and 2,880.00.





Additional key levels





 


This article is published only for general use basic informatory purposes and should not be considered or depended on as a financial or investment advice. Investors should make sure that they understand the risks and seek independent financial advice at all times. CFDS ARE COMPLEX INSTRUMENTS AND COME WITH A HIGH RISK OF LOSING MONEY RAPIDLY DUE TO LEVERAGE.

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