S&P500 (SPX) is neutral on its 1D technical outlook (RSI = 52.949, MACD = 19.450, ADX = 31.038) as the index just hit its 4H MA50, which is holding since April 22nd. This is at the bottom of the 4H Channel Up so as long as it holds, the signal is bullish. In the meantime the index again hit the P1 level, which was previously a Resistance. As long as this demand zone holds, we are aiming at the R2 level (TP = 5,790).
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.