S&P500 (a 4-hour chart)
American stocks opened lower on Wednesday as a strong dollar pressured on oil futures and materials companies.
The index was lower on Wednesday. The S&P500 retreated from the monthly high. Sellers pushed the price from 2180 towards the mark 2165. The price broke the 200-EMA. The 50, 100 and 200 EMAs are moving upwards. The resistance is seen at 2180, the support is at 2165.
MACD decreased which confirms the strength of sellers. RSI approached the oversold area.
In the medium term, the outlook is bearish. If the price keeps falling it will break the level 2165. The second sellers’ target is 2150.