- S&P 500 index reversed from support zone
- Likely to rise to resistance level 6000.00
S&P 500 index recently reversed up from the pivotal support level 5850.00 (former multi-day resistance from October).
The support level 5850.00 was further strengthened by the lower daily Bollinger Band, support trendline from August and the 50% Fibonacci correction of the upward impulse from the start of November.
Given the clear daily uptrend, S&P 500 index can be expected to rise to the next round resistance level 6000.00.
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