Will SPX Be Able To Defend 2367 On March 17th?

Will SPX Be Able To Defend 2367 On March 17th?

On analysis of the movements of S&P 500 Futures in different time frames, I find that the prevailing exhaustion may result in a steep fall in S&P 500 index at the opening bell on March 17th, 2020. If the SPX remains unsuccessful in defending the level of 2367, it may test the level of 2323; before bouncing back amid growing volatility.

SPX - Monthly Chart

SPX – Monthly Chart

SPX - Weekly Chart

SPX – Weekly Chart

SPX - Daily Chart

SPX – Daily Chart

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S&P 500 Futures – Outlook For The Week Of March 16th, 2020

Will SPX Be Able To Defend 2367 On March 17th?

Disclaimer: This analysis is purely based on the technical observations. I do not have any position in Natural Gas. One can create position in Natural Gas at his/her own risk.