05, July 2016

SP500 (a 4-hour chart)

 SP500 (a 4-hour chart)

General overview

The excitement about the Brexit calms down and the Bonds Market in the USA is returning to the levels it was before the crisis.

Current situation

The index remained close to 2100, the level it reached last week. The resistance comes in at 2100, the support lies at 2085.

MACD is in the positive area, its histogram remained at the same levels. RSI is in the overbought area. The indicators indicate a buy signal. The moving averages (50, 100 and 200) are turning upwards on the 4 hour chart.

Trading recommendations

We believe the growth will be continued now. The target is the level 2120. We do not exclude the falls to 2085.