Technical Analysis – US 500 stock index finds resistance at 200-SMA, hovers around 61.8% Fibonacci
Posted on February 11, 2019 at 1:11 pm GMTUS 30 stock index found strong resistance obstacle at the 200-simple moving average (SMA) in the daily timeframe, hovering around the 61.8% Fibonacci retracement level of the downleg from 2,940 to 2,332, near 2,708. The short-term technical indicators support this notion as the RSI is marginally pointing upwards in the positive area, while the MACD lies near the trigger and zero lines. A fresh wave of advances may stall initially near the 200-SMA, but a successful jump above this key level would increase chances for a touch of the [..]