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S&P 500 spikes are still short lived

Discussion in 'Current Market Sentiments' started by fx-recommends, Jan 18, 2016.

  1. fx-recommends

    fx-recommends Content Contributor

    Aug 6, 2008
    Likes Received:
    SP-MAR16 Daily 18-01-2016 08-22-02 ص.jpg
    SP-MAR16 rose for trading near 1875, after being exposed to downside extension to 1849.25 following forming another lower high at 1927.25 below 1946.25 which has been its highest level last week, after Dec US labor report bullish release led merely to a spike to 1964.50, before retreating again.

    SP-Mar16 daily RSI is referring now to existence barely in the neutral area coming from its oversold area below 30 reading 30.369 and also its daily Stochastic Oscillator (5, 3, 3) which is more sensitive to the volatility is having now its main line in the neutral area reading 32.898 leading its signal line to come out too from the oversold region below 20 reading now 27.795.

    Important levels: Daily SMA50 @ 2030.48, Daily SMA100 @ 2008.22 and Daily SMA200 @ 2046.91


    S1: 1849.25
    S2: 1830.50
    S3: 1812.38
    R1: 1964.50
    R2: 1927.25
    R3: 1964.50

    Walid Salah El din
    Senior Market Analyst
    Skype : chief.economist.walid

    Tel: UK. +44 1138590277
    Mob: EGY. +20 1224659143

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