SimpleFX SPX500 Chart Analysis: September 18, 2019

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The market continues to move by the lower limit of the blue channel, which is the support line for the price. For the second day, bears can not go below this line. Today, if we see a shift away from the level of 3003 and the price growth, it will mean that the blue channel continues to influence the price movement. In this case, increase in the direction of the resistance level of 3053, which is located on the upper wall of the green channel, is possible. If we see the support failure to the level of 3003, the bears will get access to the lower limit of the green channel and the support level of 2938.

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