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S&P futures fall below 1900, hit a fresh 10-week low

FXStreet (Mumbai) - The S&P futures have declined below 1900 levels to hit a fresh ten week low of 1889. The S&P futures were seen trading at the current levels during the first week of August.

The S&P futures are now trading 0.14% lower at 1891, after having hit a low of 1889. Meanwhile, the DJIA has shed 0.26% to trade at 16501.50, while the NASDAQ futures are trading 0.44% lower at 3837.70.

The concerns of global economic slowdown have dragged down the S&P from a high of 2014.50 hit in mid-September. Since then prices have been on a declining trend, as investors priced-in a possibility of an early interest rate hike in the US amid global economic slowdown.

S&P futures Technical levels

The S&P futures have an immediate support around 1880 levels, below which prices can fall to 1844 levels. On the upside, the day’s high of 1905.95 should act as a strong resistance level.

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