01, August 2016

SP500 (a 4-hour chart)

SP500 (a 4-hour chart)

General overview

The USA Bonds Market slowed down. The weak oil, concerns over the world economy after the Brexit, the BoJ's disappointed decision weighed the S&P500 index.

Current situation

The index showed mixed dynamics. The price remained close to its all-time high. The resistance is seen at 2180, the support is at 2165.

MACD indicator is at the centerline. RSI is neutral.

The trading instrument broke under the 50, 100 and 200 EMAs for a while and returned above the moving averages in the 1 hour chart. The moving averages formed a narrow channel. All lines are moving upwards.

Trading recommendations

We believe the consolidation between the levels of 2180 and 2165 will be continued now.