Market news
10.08.2020, 12:19

S&P 500 Index to see a test of the 3394 record high - Credit Suisse

S&P 500 Index to see a test of the 3394 record high - Credit Suisse

FXStreet reports that еhe S&P 500 Index maintains its break above resistance from the top of the February “pandemic” price gap at 3328/38 and although the uptrend is seen a little sluggish, economists at Credit Suisse look for this to clear the way for a challenge on the 3394 record high.

“S&P 500 is grinding its way higher following its break above resistance from the top of the February price gap at 3328/38 and whilst we remain concerned the trend is getting overstretched this suggests we can see strength extend further yet with resistance above 3356 seen next at 3373 and then and critically the 3394 record high, where we would expect to see at least some form of rejection, even if this proves only to be a brief pullback.”

“Support moves to 3329 initially, with 3318/17 needing to hold to keep the immediate risk higher. A break can see a deeper setback to 3307, then what we would look to be better support from its 13-day average, recent lows and gap support at 3286/71.”

© 2000-2024. All rights reserved.

This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).

The information on this website is for informational purposes only and does not constitute any investment advice.

The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.

AML Website Summary

Risk Disclosure

Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.

Privacy Policy

Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.

Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.

Bank
transfers
Feedback
Live Chat E-mail
Up
Choose your language / location