Dow Jones And S&P 500 Futures: April 28, 2016
ICN.com | Apr 28, 2016 05:57AM ET
Dow Futures has failed again to maintain levels above 113% Fibonacci at 17955.00, as it formed a long upper shadow from there; however, the index is still moving above SMA20 - colored in green - as seen on the provided daily graph.
RSI14 moved horizontally despite stabilizing above the value of 50.00, while signs on ADX aren’t strong enough to define the next move.
Hence, we will be neutral over intraday basis awaiting further confirmations to pinpoint the next move.
The levels to watch are 17955.00 and 17775.00.
Support: 17800.00 – 17775.00-17730.00
Resistance: 17920.00-18000.00-18080.00
Direction: Neutral
S&P 500 Futures moves above SMA20 and above 100% Fibonacci at 2074.00, while 2096.00 resistance has prevented it from achieving additional appreciation.
With unclear signs on momentum and trend indicators, we are forced to stand aside over intraday basis; noting that, 2096.00 and 2070.00 are the levels that we should watch out carefully to pinpoint the next move.
Support: 2065.00-2055.00-2025.00
Resistance: 2080.00- 2095.00-2100.00
Direction: Neutral
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