23, June 2016

SP500 (a 4-hour chart)

SP500 (a 4-hour chart)

General overview

The major US stock indexes showed a slight increase at the pre-market trading yesterday. Investors continued to assess the possible results of the UK referendum.

Current situation

The instrument showed a mixed dynamics during the day. Nevertheless it remained in a range between 2086 and 2070. The resistance comes in at 2086, the support is at 2070.

MACD is on the centerline. The indicator does not give any clear signal. RSI is in a neutral zone giving no signal too. The index stuck between the 200-SMA (support) and the 100-SMA (resistance). The 50-SMA is below the price.

Trading recommendations

We advise to short with the first target - 2070. When the pair consolidates below the first target, we can open deals to the level of 2055.