S&P 500’s hourly chart indicators suggest scope for a pullback. The index risks falling to the 50-hour SMA support. The S&P 500 index looks heavy, as the hourly chart slow stochastic indicator is reporting a bearish divergence. The hourly chart relative strength index has also diverged in favor of the bears. A bearish divergence occurs when an indicator prints lower highs, contradicting higher highs on the price chart and is indicative of ebbing of bullish momentum. In addition, the hourly chart MACD histogram has crossed into a bearish territory below zero. As such, the index could drop to the ascending 50-hour simple moving average (SMA), currently at $3,354. The bearish case would be invalidated if prices find acceptance above $3,389. Hourly chart Trend: Bearish Technical levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next BTC strategist discusses the controversy around Ethereum supply FX Street 2 years S&P 500's hourly chart indicators suggest scope for a pullback. The index risks falling to the 50-hour SMA support. The S&P 500 index looks heavy, as the hourly chart slow stochastic indicator is reporting a bearish divergence. The hourly chart relative strength index has also diverged in favor of the bears. A bearish divergence occurs when an indicator prints lower highs, contradicting higher highs on the price chart and is indicative of ebbing of bullish momentum. In addition, the hourly chart MACD histogram has crossed into a bearish territory below zero. As such, the index could drop to the ascending… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
