S&P 500 rebounds from the 5960 support – Société Générale
Source Fxstreet
The S&P 500 is testing the resilience of its uptrend after rebounding from a key support level near 5960pts, with momentum indicators suggesting caution, Société Générale's FX analysts note.
All eyes on February high near 6147pts
"S&P 500 breached a short-term ascending trend line however it has staged a rebound after carving out an interim low near 5960pts last week. The index is gradually approaching the high achieved in February at 6147pts."
"Daily MACD has turned flattish highlighting receding upward momentum. It will be interesting to see if the index can maintain above 5960pts. Inability to defend this support may result in a deeper pullback towards the 200-DMA at 5830/5800pts."
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Bitcoin (BTC) is attempting to reclaim a crucial level as support after bouncing from the recent drop below $115,000.
Meme coins, such as Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE), are experiencing a decline as selling pressure builds in the broader cryptocurrency market.
U.S.-based blockchain lending firm Figure Technology Solutions Inc. publicly announced it has filed a Form S-1 registration statement with the U.S. Securities and Exchange Commission (SEC).
AI trading enthusiasm remains strong, with AI analytics software company Palantir’s stock surging 130% year-to-date.
AUD/JPY offers its recent gains from the previous session, trading around 95.80 during the European hours on Tuesday.
Related Instrument
