- Analytics
- News and Tools
- Market News
- S&P 500 Index: Resistance cluster at 3900/3930 to cap for some consolidation - Credit Suisse
S&P 500 Index: Resistance cluster at 3900/3930 to cap for some consolidation - Credit Suisse
FXStreet reports that the Credit Suisse analyst team note that the S&P 500 Index remains at the 3900/3930 resistance cluster and the “ideal” roadmap remains for a cap here at first and for a consolidation/correction phase to unfold.
“S&P 500 is showing tentative signs of stalling at our 3900/3900 ‘measured triangle objective’ and resistance zone and although we continue to see the broader trend higher, our ‘ideal’ base case remains for a cap here at first and for a temporary consolidation/correction phase to unfold.”
“Support moves to 3897 initially, then 3885/82 below which would now add weight to our view as this would see a minor top complete for a retreat back to 3871 initially, then the rising 13-day exponential average, currently at 3854. A close below here is needed to suggest a lengthier consolidation can emerge, with support seen next at 3840/30.”
© 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.
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.
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
