the daily chartist

S&P500 recap for 07.10.2015

published 6 years ago
S&P500 Daily

 S&P500 is still trying to get out of the range and the sell zone of 1985.3. But as we can see from the chart, the price is sitting on MA50 which gives additional pressure for the price to gain momentum and brake the range and return gains from the strong sell-off. Oddly as the price now is above 1985.3 it will act a support and the price will now have difficulties moving down. The range may move itself a bit above from 1985.3 to 2000, but for a confirmation that the uptrend will restart we need the price to brake MA50 and close above it. So watch out for this particular move or be ready for another sell-of.