14 Nov 2018

S&P500 Technical Analysis: Double bottom bull flag can be in the making above 2,700 figure

S&P500 4-hour chart

The S&P500 is trading in a bear trend below the 200-period simple moving average on the 4-hour chart.
The S&P500 is vulnerable to further downside move but bears will need to keep the market below the 2,700 level on a daily closing basis.
On the flip side, bulls are trying to create a double bottom bull flag with the early November low. The market needs to stabilize some more above 2,700 in order to confirm a continuation up.

Additional key levels at a glance:

SP 500

Overview:
    Last Price: 2716.25
    Daily change: -1.3e+3 pips
    Daily change: -0.458%
    Daily Open: 2728.75
Trends:
    Daily SMA20: 2734.01
    Daily SMA50: 2820.5
    Daily SMA100: 2832.06
    Daily SMA200: 2767.94
Levels:
    Daily High: 2756
    Daily Low: 2715.25
    Weekly High: 2818.75
    Weekly Low: 2713.5
    Monthly High: 2939.5
    Monthly Low: 2604.5
    Daily Fibonacci 38.2%: 2740.43
    Daily Fibonacci 61.8%: 2730.82
    Daily Pivot Point S1: 2710.67
    Daily Pivot Point S2: 2692.58
    Daily Pivot Point S3: 2669.92
    Daily Pivot Point R1: 2751.42
    Daily Pivot Point R2: 2774.08
    Daily Pivot Point R3: 2792.17

S&P500 Technical Analysis: Double bottom bull flag can be in the making above 2,700 figure

EU's Barnier: Brexit deal brings legal certainty on consequences of Brexit

USD/MXN Technical Analysis: Mexican peso recovers modestly, pressure remains to the upside