S&P500 (a 4-hour chart)
Wall Street opened higher on Wednesday on the back of the energy sector strengthening due to the oil prices growth.
The index reversed some of its Tuesday’s losses when rebounded from the level 2140. The price grew to the nearest resistance where the upward momentum faded. The overall picture remained bearish. The price grew to the 100-EMA which stopped its further growth. The 50 and 100 EMAs act provide a strong resistance for the S&P500. The resistance is seen at 2150, the support is at 2140.
MACD decreased which confirms the strength of sellers. RSI is within the neutral area. The oscillator is slowly decreasing.
The overall outlook remains bearish, for a decline towards 2140.