S&P500 (a 4-hour chart)
Wall Street opened higher ahead of the Fed rate decision.
The index opened higher on Wednesday. The price traded with slight gains. S&P500 was able to escalate up to the level 2150 during the European trades. The 50 and 100 EMAs are neutral, the 200-EMA maintained its bullish slope. The resistance is seen at 2150, the support is at 2140.
MACD indicator is at the centerline. If the histogram enters the positive territory, that will indicate buyers’ growing strength. If MACD returns into the negative area the sellers will take control over the market. RSI is neutral.
To move higher the price needs to break the immediate resistance at 2150. Once we break above 2150, we think that the 2160 level will be next. A move below 2140 might force the index to resume its downward trajectory towards 2135.