- Analytics
- News and Tools
- Market News
- S&P 500 points at the February pandemic gap at 3260 after breaking the 3233 June high - Credit Suisse
S&P 500 points at the February pandemic gap at 3260 after breaking the 3233 June high - Credit Suisse
FXStreet reports that analysts at Credit Suisse apprise that S&P 500 has finally seen a clear break above the June high at 3233 for a resumption of the uptrend with resistance seen next at 3260 above which can see the top of the gap at 3328/38.
“The S&P 500 has finally seen a clear break and close above key resistance from the 3233 June high, albeit on low volume and strength has already extended to next flagged resistance from the bottom of the February ‘pandemic’ gap at 3260. Although this should be respected we look for a clear break in due course with resistance seen next at 3288, ahead of 3318 and then the top of the February gap at 3328/38, which we look to prove a tougher barrier. Should strength directly extend, we think this can clear the way for a move back to the 3394 high.”
“Support is seen at 3233/31 initially, with 3215 now ideally holding to keep the immediate risk higher. Below can see a fall back to price/gap support at 3200/3198, with the key 13-day average now at 3185.”
© 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
