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29.06.2021, 12:46

S&P 500 Index set to reach the 4350 level - Credit Suisse

FXStreet reports that the Credit Suisse analyst team notes that the S&P 500 Index is set to hold above the 13-day exponential average at 4245 to maintain the uptrend with next resistance seen at 4291, while the 4350 level remains the objective.

“The S&P 500 has moved beyond 4286 as expected, with the market reaching Fibonacci projection resistance at 4291. Given the improving short-term momentum and recent tick higher in volume, we look for a break above here to open up our 4350 next core objective. We would then look for a fresh phase of consolidation to emerge here.” 

“Overall, we maintain a tactical bullish bias whilst above the 63-day average and recent low at 4173/64.”

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