SP500 (a 4-hour chart)
The USA Bonds market decreased when UMF lowered its forecasts regarding the global economy growth. The global markets outlook is uncertain after the Brexit.
The S&P500 remained in a narrow side channel which is limited by the marks 2160 and 2150. The price went back and forth in the channel and decreased to its lower limit by the end of the trades. The resistance is at 2165, the support is seen at 2150.
MACD is in the positive area. Its histogram decreased which indicates the buyers’ positions weakening. The indicator still gives a buy signal. RSI is close to the overbought territory.
The price broke 100-EMA in the 1 hour chart. The 50-EMA acts as a resistance; the 100-EMA is a support. The 100-EMA broke upwards the 200-EMA in the 4 hours chart. The moving averages direction is upwards.
We believe the price will remain sandwiched between the levels 2165 and 2150.