S&P 500: Next downward objectives are at 5400/5390pts and 5300pts – Societe Generale
Source Fxstreet
S&P 500 has so far defended the low of last down leg near 5500pts, which is also an ascending trend line connecting troughs of April 2024/August 2024, Societe Generale's FX analysts report.
Index to test the 200-DMA near 5780/5800pts in the near term
"A brief bounce is taking shape, but it will be interesting to see if the index can overcome recent pivot high and the 200-DMA near 5780/5800pts. Inability to cross this can result in persistence of decline. Below 5500pts, next objectives could be located at projections of 5400/5390pts and 5300pts."
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
An analyst has suggested that Monero (XMR) could repeat its 2021 cycle-high amid its recent price jump. However, a renowned on-chain sleuth has linked the surge to suspicious Bitcoin (BTC)
BNB price is consolidating above the $640 support zone. The price is now showing positive signs and might aim for more gains in the near term. BNB price is attempting to recover from the $640 support
Dogecoin started a fresh increase and climbed above the $0.2320 zone against the US Dollar. DOGE is now correcting gains and approaching $0.2180. DOGE price started a fresh increase above the $0.220
The EUR/USD pair ticks higher at the start of a new week amid a softer US Dollar (USD), though it lacks bullish conviction and remains below the 1.1200 round figure through the Asian session.
Ethereum price corrected gains and tested the $2,320 zone. ETH is now struggling and might decline toward the $2,220 support zone. Ethereum started a correction from the $2,580 zone and tested
Related Instrument
