Dow Jones And S&P 500 Forecast: June 14, 2016
ICN.com | Jun 14, 2016 06:00AM ET
Dow has fallen down yesterday to currently trade below 17820.00 - support turned into resistance - as seen on the provided daily chart.
Moreover, traders succeeded in taking the index below moving averages and taking RSI below 50.00 levels.
Bears’ power becomes clear on ADX and that is why we will be bearish, but we need a move below 17690.00-17680.00 support to confirm the scenario.
Support: 17690.00-17620.00-17550.00
Resistance: 17800.00-17820.00-17880.00
Direction: Bearish below 17690.00
S&P 500 has moved bearishly below the main support zones of 2090.00-2085.00.
The index struggles just around SMA50 along with bearish signs on RSI and ADX.
Hence, we will be bearish below 2070.00 regions.
Support: 2070.00-2055.00-2043.00
Resistance: 2083.00-2089.00-2095.00
Direction: Bearish below 2070.00
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