\n<\/script> –>
\n<\/p>\n

1. The first line we draw is the resistance trend line marked as 1.
\n2. The second line we draw, is the support trend line marked as 2.
\n3. resistance trend line marked as 3.
\n4. Fibonacci retracement marked as 4.
\nWe can see that the 1 line is still strong and forms a strong resistance for the S&P index in the short term.
\nLines 2 and 3 forms together a canal that brakes at the end. since the support line 2 was broken, it now will become a resistance line for the future.
\nWe can see that the index stoped at the fibonacci line of 38.2%, if the index will go under this line, it we will probably fall all the way to the 50% fibonacci line, that also integrates with the 140 points line. \u00a0My guess is that this will be our next support line.<\/p>\n