S&P 500 key levels and scenarios
After Monday's reversal-looking candle, all eyes today will be on whether the bulls will be able to take charge and further erode the bears' control.
Earlier, weaker PPI data helped to fuel a rise in US futures, but since then we have seen a bit of a pullback from the highs, although nothin too alarming so far.
Key support to watch include Monday's high at 5843, followed by 5831. A daily close below this 5831-5843 area would be a bearish development. In that scenario, a drop to take out liquidity below Monday's range would then become a likely scenario.
Key short-term resistance comes in around 5873-5882 (shaded in grey). A daily close above this area could signal a trend resumption.
By Fawad Razaqzada, market analyst with FOREX.com
Earlier, weaker PPI data helped to fuel a rise in US futures, but since then we have seen a bit of a pullback from the highs, although nothin too alarming so far.
Key support to watch include Monday's high at 5843, followed by 5831. A daily close below this 5831-5843 area would be a bearish development. In that scenario, a drop to take out liquidity below Monday's range would then become a likely scenario.
Key short-term resistance comes in around 5873-5882 (shaded in grey). A daily close above this area could signal a trend resumption.
By Fawad Razaqzada, market analyst with FOREX.com
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.