Dow Jones Moves Down, S&P 500 Tests Support
ICN.com | Jun 13, 2016 07:01AM ET
Dow has moved to the downside on Friday, but it started the week with trading in the SMA20 zones, which intersects with the 17820.00 support.
This area is very sensitive as seen on the provided daily char, while RSI is touching the key momentum support of 50.00.
We prefer to stand aside now until we catch a reliable signal and we will watch out 17760.00 and 17900.00 levels very carefully, as price behaviors around them will define the next big move.
Support: 17765.00-17730.00-17650.00
Resistance: 17860.00-17900.00-17980.00
Direction: Neutral
S&P 500 has failed in the 2120.00 to currently test the key support regions of SMA20 at 2090.00, which is a very solid support too.
We see some kind of negativity on ADX, but RSI touches the key momentum support of 50.00.
We will be neutral today due to the sensitivity of current trading levels
Support: 2083.00-2077.00-2065.00
Resistance: 2100.00-2107.00-2117.00
Direction: Neutral
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