Buying Opportunity in the Index. Index closing above the Resistance and BB would be a strong confirmation of going long on the index.

RSI is following the trend indicating strong moves.  Index is trading above the 10day MA indicating positive direction. Index has to surpass the 50 day MA to continue strengthening the direction, for that the index has to close above the BB.

Primary trend has been negative, the market has corrected approx 12-15% from the top. Due to the economy, inflation has been high and war tension is still on the line. The Secondary trend is expected to be positive.

Advice : Buy if the Index closes above the Resistance and BB.

SP500

Jun 17 2022