S&P500 Technical Analysis: Bears take the lead – Trading below 2,840.00

• The S&P500 declined as far as the 2,825.00 support on the last day of the week.  
• Bulls managed to bring the market back above the 2,835.25 level suggesting that they might try to retake the current weekly high in the next sessions.
• Next week bears objective will be to break below 2,825.00 support in order to target 2,810.00 demand level. Resistances become the 2,845.00 supply/demand level and 2,853.00 August 9 low.
  

S&P500 15-minute chart  

S&P500 daily chart  

Spot rate:                  2,838.50
Relative change:        -0.47%      
High:                         2,851.25
Low:                          2,825.25

Trend:                       Bullish / Bearish reversal attempt below 2,852.00

Resistance 1:           2,845.00 supply/demand level
Resistance 2:           2,853.00 August 9 low
Resistance 3:           2,863.75 August 7 high
Resistance 4:           2,875.50 all-time-high
Resistance 5:           2,900 figure

Support 1:                2,825.00 August 3 low
Support 2:                2,810.00 demand level
Support 3:                2,798.50 July 30 low