S&P500 Technical Analysis: Bears take the lead - Trading below 2,840.00

  • The S&P500 declined as far as the 2,825.00 support on the last day of the week. 
  • Bulls managed to bring the market back above the 2,835.25 level suggesting that they might try to retake the current weekly high in the next sessions.
  • Next week bears objective will be to break below 2,825.00 support in order to target 2,810.00 demand level. Resistances become the 2,845.00 supply/demand level and 2,853.00 August 9 low.

S&P500 15-minute chart 

S&P500 daily chart 

Spot rate:                  2,838.50
Relative change:       -0.47%     
High:                         2,851.25
Low:                          2,825.25

Trend:                       Bullish / Bearish reversal attempt below 2,852.00

Resistance 1:           2,845.00 supply/demand level
Resistance 2:           2,853.00 August 9 low
Resistance 3:           2,863.75 August 7 high
Resistance 4:           2,875.50 all-time-high
Resistance 5:           2,900 figure

Support 1:                2,825.00 August 3 low
Support 2:                2,810.00 demand level
Support 3:                2,798.50 July 30 low

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.