News | Forex Optimum

News

News

S&P 500 Index: Support at 3748/38 to hold - Credit Suisse

FXStreet notes that although there is scope for further near-term consolidation, the S&P 500 Index still maintains a large bullish “outside week”, which reinforces the uptrend, and economists at Credit Suisse stays bullish for the “measured triangle objective” at 3900. 

“Another consolidation session for the S&P 500 as the uptrend pauses and although this should be allowed to extend further yet, with a large bullish ‘outside week’ in place we stay bullish overall. 

“Resistance above 3827/32 is seen next at 3866/68 and eventually the ‘measured triangle objective’ at 3900. With a cluster of further Fibonacci projection resistances also seen here and stretching up to 3925/30, we maintain our call to look for a cap here for a fresh and likely we think protracted consolidation phase. Should strength instead directly extend, we see resistance next at 4000, then 4070/75.” 

“Support is seen at 3792 initially, then 3777."

You may also be interested:

05:30 19.01.2021
Commodities. Daily history for Monday, January 18, 2021
Raw materials Closed Change, % Brent 54.76 0.04
03:30 19.01.2021
Schedule for today, Tuesday, January 19, 2021
Time Country Event Period Previous value Forecast 07:00 (GMT) Germany CPI, m/m
03:15 19.01.2021
Currencies. Daily history for Monday, January 18, 2021
Pare Closed Change, % AUDUSD 0.76771 -0.38
Deposit
options
Trading
platform
download
Bonuses VIP