The SPX500 is falling, breaking out supports levels easily. Yesterday it has closed in the red, for another session, closing around 2045, which is a critical level, as breaking it out will extend the benchmark's losses.
The benchmark is currently heading south towards the 2001.4 level, with 2025 as a primary objective.
Only a breakout of 2061 would suggest the end of the current bearish movement it has been going through, since the beginning of the week. Breaking out that level will send back towards the 2103.9 resistance level, with 2082.2 as a primary objective.
Sinking Oil prices is one of the reasons behind the slowdown, which has rendered the SPX500 even weaker.
The daily Pivot Point is around 2053.63. The daily support levels are around 2027.16 and 2008.43. The daily resistance levels are around 2072.36 and 2098.83.
The benchmark is currently heading south towards the 2001.4 level, with 2025 as a primary objective.
Only a breakout of 2061 would suggest the end of the current bearish movement it has been going through, since the beginning of the week. Breaking out that level will send back towards the 2103.9 resistance level, with 2082.2 as a primary objective.
Sinking Oil prices is one of the reasons behind the slowdown, which has rendered the SPX500 even weaker.
The daily Pivot Point is around 2053.63. The daily support levels are around 2027.16 and 2008.43. The daily resistance levels are around 2072.36 and 2098.83.
