SPX 500 Technical Analysis: Interim Support Found Sub-2100
- Support: 2089.40, 2081.20, 2072.90
- Resistance: 2115.90, 2137.10, 2157.50
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The SPX 500 has transitioned into consolidation mode after finding interim support below the 2100 figure. A daily close below the 38.2% Fibonacci expansion at 2089.40 exposes the 50% level at 2081.20. Alternatively, a reversal above the July 31 high at 2115.90 clears the way for a challenge of range resistance in the 2129.60-37.10 area.
KEY UPCOMING EVENT RISK:
07 AUG 2015, 12:30 GMT – US Change in Nonfarm Payrolls (JUL) – Expected: 225K, Prev: 223K
--- Written by Ilya Spivak, Currency Strategist for DailyFX.com
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