S&P 500: The market appears to be stalling at the round 1400 figure. Actually, it inched above but appears to have run out of steam. Should it continue to rise, it could test the next line of resistance at 1415.20. This is the top of a rising channel. Still we are seeing a formation of a Hanging Man candlestick. Alternatively, we see near term support at 1392.10. A move below can test 1385.70, the March 27 low. This is also the falling trend line.
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DISCLOSURE & DISCLAIMER: THE ABOVE IS FOR INFORMATIONAL PURPOSES ONLY AND NOT TO BE CONSTRUED AS SPECIFIC TRADING ADVICE. RESPONSIBILITY FOR TRADE DECISIONS IS SOLELY WITH THE READER.
Ava Capital Markets Ltd (“AVAFX”) is regulated by the Central Bank of Ireland
Please feel free to ask any questions or leave comments. As always we will answer as fast as possible. Have a good trading day.
DISCLOSURE & DISCLAIMER: THE ABOVE IS FOR INFORMATIONAL PURPOSES ONLY AND NOT TO BE CONSTRUED AS SPECIFIC TRADING ADVICE. RESPONSIBILITY FOR TRADE DECISIONS IS SOLELY WITH THE READER.
Ava Capital Markets Ltd (“AVAFX”) is regulated by the Central Bank of Ireland