- March 18, 2021
- Posted by: Tradingshot Articles
- Category: Stock Indices
The 4H MA200 (orange trend-line) with the 1D MA50 (green dots) have recently provided rebounds on S&P500 more often than not, acting as a Support Zone.
As you see on the chart those happen to be also on key horizontal Support levels (3900 – 3860). With the 4H RSI making contact with its parabolic line, it is possible that the index is nearing a Support that will provide at least a short-term rebound. Use the Higher Highs line for a potential Target.
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