Dow finished the day bullishly yesterday and continued to inch higher during the Asian session whereas traders are on the way to relief momentum indicators more.
Moving above 15855.00 has assisted buyers in nearing 16000.00 psychological, which is the key for today’s bullish resumption.
We will be bullish today; noting that, we are still looking at recent bullish moves as a correction.
Support: 16000.00-16120.00-16250.00
Resistance: 15855.00-15730.00-15625.00
Direction: Bullish attempt
S&P 500 has passed over 23.6% Fibonacci of the last wave seen on the provided daily chart.
According to Fibonacci rules, we may see additional recovery towards 38.2% Fibonacci, as momentum relief process is still in progress.
Coming below 1867.00 will weaken the current recovery.
Support: 1862.00-1845.00-1830.00
Resistance: 1895.00-1900.00-1907.00
Direction: Bullish attempt