- Analytics
- News and Tools
- Market News
- S&P 500 Index to test key support at 4502 as near-term momentum falls sharply - Credit Suisse
S&P 500 Index to test key support at 4502 as near-term momentum falls sharply - Credit Suisse
FXStreet reports that the S&P 500 Index is seeing a sharp loss of near-term momentum. Analysts at Credit Suisse look for a test of key support from its 13-day exponential average at 4502, a close below which would confirm a corrective setback is underway.
“The rally in the S&P 500 is showing signs of stalling with near-term momentum turning sharply lower. Key near-term support remains seen at the rising 13-day exponential average at 4502, a close below which should confirm a corrective phase lower is indeed underway for a test of the 4469 recent low, with scope then for the potential uptrend from July and price support at 4446/42.”
“Resistance is seen at 4529 initially, with a break above 4546 needed to curtail thoughts of a correction to reassert the uptrend with resistance then seen next at 4565 ahead of 4600/15.”
© 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
