SP500 (a 4-hour chart)
S&P500 traded higher on Tuesday on the back of the Technology stocks growth and when oil price gound status quo.
The quotes returned to all-time highs on Tuesday. The index spent the day below 2180. All buyers’ attempts to regain the level failed. The resistance is seen at 2180, the support is at 2165.
MACD is still in the positive area. The histogram points to the buyers’ positions weakening. RSI stayed close to the overbought area.
The 50-EMA is crossing the 100-EMA upwards which is a buy signal in the 4 hours chart. The 50-EMA acts as a support for the price. The 50, 100 and 200 Day EMAs are trending upwards.
If S&P500 manages to break the level 2180 the upward trajectory will be continued towards 2200. The price may retreat from the local highs to the support 2165 where the 50 and 100 EMAs exist.