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Below 2941.34 PTS the S&P 500 is evolving toward 2721.59 PTS over the short term. The clearing of 2941.34 PTS would invalidate this opinion and open the door for 2968.81 PTS.
Opinion Short Term
- Resistance 1 £2,886.40
- Support 1 £2,721.59
Opinion Medium Term
- Resistance 2 £2,941.34
- Support 2 £2,694.13
The MACD is positive but lower than its signal line. The dynamic in progress has been interrupted. If the MACD were to turn negative, the price correction could continue. Powerful indicators like the RSI, are not giving us any particular indications in the short term. The Stochastics indicators are not giving any clear signals for the coming days. The volumes traded are less than the average volumes over the last 10 days.
The index is positioned to the upside. It is above its 50-day moving average. The position of the 20-day moving average (higher than the 50-day moving average) means that this index is reliable in the medium term. The first buy levels are on the supports situated at 2721.59 PTS, then at 2694.13 PTS; only the resistances, placed at 2886.4 PTS, then at 2941.34 PTS, could contain the prices.