S&P500 - 4 hour: 2767 immediate projected resistance 2767

2 Kas 2018

UPDATE: Overview - Last month produced a low at 2603 but closed on the weak side and so far, we are trading neutral within last month's trading range of 2939 to 2603. We need to breakout of this range to confirm the direction. Therefore, a close above will be bullish and a close below will warn of a possible decline! Previous analysis: The Downtrend Line resistance stands above the market at 2694 with our immediate projected resistance standing at 2767. the Bearish Reversal lies at 2682 - We now need to close beneath 2864 on a monthly basis to imply a technical reversal of trend to the downside for now. Since we are trading below that level, caution is advisable.