S&P500 (a 4-hour chart)
US stocks were neutral at open amid oil prices flat.
Sellers met a barrier at 2260 which rejected the price upwards. The benchmark was able to reverse a minor portion of yesterday’s losses and grew up to 2265 where the upward momentum lost its legs in the mid-European session. The price broke the 100-EMA upwards in the 1 hour chart. The 50 and 200-EMAs were flat while the 100-EMA pointed higher in the mentioned timeframe. The resistance is at 2280, the support comes in at 2260.
MACD decreased which indicates the buyers’ positions weakening. RSI was within the neutral area.
The price maintained its bullish tone in the 4 hours chart. A recovery above the 2280 level will favor an advance up to the 2300 region.