SPX500 Analysis 17.08.2015
invezted.com
Context:
price remains in its range with support beeing 2043 and resistance at 2134
its building a cause for the next move , depending on the change of supply and demand
Location:
Price currently resides at the "mean" of the range at 2090 one could say we trade at "fair" value
and these locations usually mean chop , also they guve further insight on the future course
ie. on a rejection to the downside we will visit support again and vice versa
Price Action
Price is in a decline from the resistance level and currently formed a minor range between
resistance 2095 and support 2080
Conclusion:
Intraday and swing trade wise one should focus on the resistance level of the minor range at 2095
any rejection will give us room to atleast test the support level of 2080 again , due to the fact
that we also trade near the supplyline a riskwise good entry for a swing play would also be a possibility
else trade a breakout eitherside , or a higher low near support 2080 and or a rejection of support
support:
2080/85
2060
2043
resistance:
2095
2115
2135
Context:
price remains in its range with support beeing 2043 and resistance at 2134
its building a cause for the next move , depending on the change of supply and demand
Location:
Price currently resides at the "mean" of the range at 2090 one could say we trade at "fair" value
and these locations usually mean chop , also they guve further insight on the future course
ie. on a rejection to the downside we will visit support again and vice versa
Price Action
Price is in a decline from the resistance level and currently formed a minor range between
resistance 2095 and support 2080
Conclusion:
Intraday and swing trade wise one should focus on the resistance level of the minor range at 2095
any rejection will give us room to atleast test the support level of 2080 again , due to the fact
that we also trade near the supplyline a riskwise good entry for a swing play would also be a possibility
else trade a breakout eitherside , or a higher low near support 2080 and or a rejection of support
support:
2080/85
2060
2043
resistance:
2095
2115
2135
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