Sharp fall has been witnessed from 50% Fibonacci retracement, taking Dow Jones below 61.8% along with a confirmed closing below it as seen on the provided daily chart.
RSI14 is still in need for a relief, while the strength of the bearishness decreased according to ADX reading.
However, we will depend on the afore-mentioned negative closing to suggest potential bearish actions today.
A break below 16000.00 psychological will accelerate.
Support: 16100.00-16000.00-15855.00
Resistance: 16250.00-16320.00-16460.00
Direction: Bearish
S&P 500 has declined to trade below 76.4% Fibonacci following yesterday’s negative closing below this level.
We will depend on yesterday’s long black candle and negativity of closing below 76.4% to propose potential downside resumption although RSI14 needs some kind of relief.
A break below 1872.00 will be a very negative catalyst over short-term basis.
Support: 1880.00-1872.00-1850.00
Resistance: 1905.00-1915.00-1932.00
Direction: Bearish