S&P 500: Risk of continuation in decline is present – Societe Generale
Source Fxstreet
S&P 500 has rebounded after forming interim support near 5500pts representing the 61.8% retracement from last August, Societe Generale's FX analysts report.
Gap-up level at 5710pts is first support
"It has gapped up yesterday and is inching higher towards the lower limit of previous multi-month range. December low of 5810/5830pts and the 50-DMA near 5910pts are next short-term hurdles. If the index struggles to overcome these resistances, there could be risk of continuation in decline. Gap-up level at 5710pts is first support."
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Samsung forecasts Q3 profit of 12.1 trillion won, boosted by strong AI chip demand.
The U.S. dollar remained steady on Tuesday following a shift in President Donald Trump’s harsh stance on tariffs against China.
Asian equity markets struggled to close the week on a weak note Friday, influenced by ongoing losses on Wall Street that extended into early Asian trading.
Oil prices held steady in early Asian trading on Friday following the announcement of a ceasefire between Israel and Hamas.
Bitcoin drops below $110K ahead of $22B options expiry; altcoins tumbleBitcoin fell below the $110,000 mark on Friday, heading for a steep weekly loss as nearly $22 billion in cryptocurrency options were set to expire. The drop also comes as traders await key U.S. inflation data that could influence the Federal Reserve’s policy outlook.
Bitcoin fell below the $110,000 mark on Friday, heading for a steep weekly loss as nearly $22 billion in cryptocurrency options were set to expire. The drop also comes as traders await key U.S. inflation data that could influence the Federal Reserve’s policy outlook.
Related Instrument
