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- S&P 500 Index: Defense of 3900/3890 to trigger further upside – SocGen
S&P 500 Index: Defense of 3900/3890 to trigger further upside – SocGen
S&P 500 has so far defended the potential support zone at 3900/3890. Economists at Société Générale expect the index to test 4115/4160 and 4220 next.
Break below 3900/3890 to open up previous bullish gap at 3795
“Once a cross above the 50-DMA at 4020 materializes, a short-term up move is likely towards graphical levels of 4115/4160 and 4220.”
“Only if the index establishes itself below 3900/3890, there would be a risk of extension in pullback towards previous bullish gap at 3795 and the lows of June at 3636.”
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