The SP 500 is currently being rejected by the price actions around the level of 2069.1, where the sellers are highly active. A decline towards the 200 SMA is expected in case that bearish scenario happens, so the index could do another fall until the support level of 2045.5 in a mid-term basis, which is below the 200 SMA in the H1 chart. The RSI indicator is in the positive territory.
H1 chart's resistance levels: 2069.1 / 2073.9
H1 chart's support levels: 2059.7 / 2054.9
Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the SP 500 breaks a bearish candlestick; the support level is at 2059.7, take profit is at 2054.9, and stop loss is at 2063.9.
The material has been provided by InstaForex Company - www.instaforex.com