Quick Technical Overview - S&P 500: key resistance to be broken for the bullish to be continuing
30 October 2015, 15:11
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Weekly price is on bullish market condition for ranging between
Central Pivot at 1963.05 and R1 Pivot at 2188.18. The price is breaking 2134.42 resistance with R1 Pivot at 2188.18 as a next bullish target.
| Instrument | S1 Pivot | Yearly PP | R1 Pivot |
|---|---|---|---|
| S&P 500 |
1832.78 |
1963.05 |
2188.18 |
If W1 price will break Central Pivot at 1963.05 on close W1 bar so we may see the reversal of the price movement to the primary bearish market condition.
If W1 price will break R1 Pivot at 2188.18 from below to above so the bullish trend will be
continuing.
If not so the price will be ranging between the levels.
Trend:
