US 500 is moving towards a line of 5516.8198 which it has tested numerous times in the past. We have seen it retrace from this position in the past, so at this stage it isn’t clear whether it will breach this price or rebound as it did before. If US 500 continues in its current trajectory, we may see it move towards 5516.8198 within the next 3 days.
Supports and resistances are primary concepts of technical analysis. US 500 is heading for an important price of 5516.8198 – read about what this could mean for the future.
