OctaFX | OctaFX Forex Broker
Open trading account
Back

S&P500 Price Analysis: Index hovering near the all-time high

  • The uptrend remains intact within the bullish channel. 
  • The level to beat for bulls is the 3350 resistance.
 

S&P500 daily chart

 
The US stock index is trading in a bullish channel above the main daily simple moving averages (SMAs). The path of least resistance is to the upside and if bulls break the 3350 resistance the market is likely to keep its bullish run trading towards the 3400 and 3450 levels. Retracements down could find potential support near the 3300 and 3250 price levels. 
 
 

Additional key levels 

 

WTI: Short-term spec-bulls shaken out in risk-off environment

The price of a barrel of oil was a lot cheaper on Thursday, as markets flipped heavily risk-off as the spread of coronavirus gripped the markets atten
Read more Previous

Risk-off prevailed overnight on concerns about coronavirus - ANZ

Analysts at ANZ bank noted that it has been risk-off prevailing overnight on concerns about coronavirus, which has claimed 17 lives, with more than 60
Read more Next
Start livechat