S&P 500 Daily Forecast Feb 21

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The S&P 500 index maintained a bullish momentum yesterday , bottomed at the 1817 levels , this development leaves the pair targeting the 1844 levels where a breach is likely, If seen, the index will extend gains towards the 1851 levels, break of 1851 will call for a run to the 1861 levels, further out will aim 1872 levels.

On the downside, a rejection from the 1844 levels, could mean a return to the 1817 levels, a halt is suggested, but losing the 1817 levels on a daily basis will reverse risks to the downside to the 1790 levels , a cut will open the 1758 levels , but downside below the 1817 levels should be contained well by the 1758 levels.

In all, as long as support 1817 holds, the S&P 500 index will remain biased to the upside in short-term view with risk towards the 1844 levels ahead of the 1851 levels,  losing the 1817 levels will revere risk towards the 1790 levels.

 

S&P 500 Daily Forecast Feb 21

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