• key support level on spx 30 minute chart

key support level on spx 30 minute chart

It has been a while since I posted about the 30 minute chart on the S&P 500 – but here I go. The upward trend-line has been broken, off of the June 16th lows. However, you have this stubborn support/resistance level at 2085 depending on which side of price SPX happens to be on. Going back to late May, this price level has offered a good bit of support, and only last week did it create any issues of resistance. 

Yesterday, price gapped completely over 2085 which avoided the whole issue of resistance again as it had done back on Wednesday of last week. And yesterday SPX closed a couple of points below the 2085 level, but it didn’t seem to be a big issue as the bulls just gapped right back above it again today. 

So in summary – 2085 is a bit complicated, but overall it does offer a good deal of support as it has found some decent bounces off of it time and again. If there is a substantial break of this level today, then we may in fact have some traction to the downside again. 

Here’s what I am looking at:

spx 30 minute 2085 price support level

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