OctaFX | OctaFX Forex Broker
Open trading account
Back

Flash: S&P 500 looks technically bullish next week and ranging – Nomura

FXstreet.com (Barcelona) - Nomura strategist Saeed Amen has taken a look at the S&P500 from a purely technical perspective an believes that the pair looks bullish ahead.

Looking at a daily chart he note that spot is a touch higher on the week. He sees that spot was unable to break through the 20D SMA on the downside, suggesting losses are limited here. Further, he adds that the RSI has come off, indicating a short-term high has been reached. However, it still is elevated indicating that momentum is on the upside. He writes, “Bandwidth has fallen suggesting range-bound price action. Our target is 1675 (below upper Bollinger band).”

US Reuters/Michigan Consumer Sentiment Index improves to 84.5 in May from 76.4 in Apr

Read more Previous

Flash: Markets reminded of economic gap between the US and Eurozone - BBH

Brown Brothers Harriman analysts note that the markets were given another harsh reminder of the gap that still exists in economic fundamentals between the US and the euro zone.
Read more Next
Start livechat