S&P500 (a 4-hour chart)
American stocks traded lower on Wednesday. The uncertainty over the outcome of the upcoming
The index remained under pressure, staying around 2100 during the day. The price briefly recovered during the European trades and turned lower in early American trades. The 50, 100 and 200 EMAs extended their bearish slope in the 4 hours chart. The price remained well below the moving averages. The resistance is seen at 2110, the support is at 2100.
MACD remained at the same level which confirms the strength of sellers. The RSI is within oversold levels.
If the index holds its bearish tone S&P500 will keep heading lower. A clear break below 2100 will send the price towards 2090.