Dow Jones
Areas of 15770.00 has offered good support for Dow Jones, pushing it towards 16335 as seen on the provided daily chart.
This upside recovery has fixed RSI14 sign and may assist the index to move higher.
However, we need a confirmation with a four-hour closing above 16335.00 to enter the market since ADX remains negative.
We will watch the price behaviors of the index to see whether it will breach this level of not.
- Support: 16220.00-16000.00-15770.00
- Resistance:16450.00-16550.00-16630.00
- Direction: Sideways
S&P 500
Same here on S&P 500, as the index should hit the initial resistance of 1966.00 to affirm resuming the upside recovery and to fix the RSI14 indicator.
We should watch out the price behaviors carefully before entering the market since the fluctuation may continue over intraday basis.
On the downside, coming blow 1915.00 will bring the bearishness back into focus.
- Support: 1920.00-1850.00-1830.00
- Resistance: 1966.00-2000.00-2032.00
- Direction: Sideways