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#SPX
With EMA(50) and EMA(200) position forming a Golden Cross and confirmed by RSI(14) indicator in the Extreme-Bullish level, there is potential today for #SPX to test its nearest resistance level.
Key Levels
1. Resistance. 2 : 7072.23
2. Resistance. 1 : 7046.41
3. Pivot : 7000.06
4. Support. 1 : 6974.24
5. Support. 2 : 6927.89
Tactical Scenario
Positive Reaction Zone: If #SPX breaks out and closes above 6974.24, there is a likelihood the move will rise toward 7072.23.
Momentum Extension Bias: If 7072.23 is broken to the upside, #SPX may test 7118.58.
Invalidation Level / Bias Revision
The upside bias weakens if #SPX plunges below 6927.89.
Technical Summary
EMA(50) : 6998.49
EMA(200): 6897.29
RSI(14) : 70.30
Economic News Release Agenda:
Today the United States will release the following economic data:
US - Philly Fed Manufacturing Index - 19:30 WIB
US - Unemployment Claims - 19:30 WIB
US - Capacity Utilization Rate - 20:15 WIB
US - Industrial Production m/m - 20:15 WIB
US - Natural Gas Storage - 21:30 WIB
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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