Traders are focusing on key resistance at 1,330 for the S&P 500
The most important points from the above chart for the S&P 500 are:
- Resistance levels exist on all stock charts.
- The S&P 500 must break and hold above the 1,330 level on the candlestick chart.
- The new support level will then be 1,330.
- The reversal of resistance to support is an important concept in technical analysis.