Market Technical View is a blog that mostly concerns the technical analysis of different financial instruments like indices, commodities, stocks, ETFs and currencies.

All the posts are structured in 3 main chapters that can be found in Content, in the upper right-hand corner of the blog.

Market perspective. The technical approach consists of chart patterns and important support/resistance zones. The purpose of this section is to give directions of the price on short and medium term (a few days up to a few months).

Trading setups. The analysis posted here will provide trading scenarios based on different technical tools.

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Tuesday, February 14, 2012

S&P 500 support and resistance

S&P Index is still moving in the bullish channel started in late December and its borders are regarded by investors as relevant support and resistance.

The most important support zone in case of a drop in this session stand between $1,331 and $1,340 levels and it represents recent local highs and lows.

The main resistance is close to Friday’s closing level, at $1,354 and if it will breached, the buyers may take the price towards the T2 trend line. An eventual fail of the bulls to break the above mentioned resistances will show the bear domination, at least for today. 


Posted by Adrian Filip at 3:42 PM
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