Sun, Nov 27, 2022 @ 14:30 GMT

S&P 500 Recoups Losses

The S&P 500 shot up as a hot CPI reading had previously been priced in. The index has given up all previous gains after it came to a halt at 3800. The supply area may have been the last chance to get out for those who bought the dips last summer. This also means that there could be more room on the downside. In the meantime, 3500 at the base of a bullish breakout in November 2020 saw an inflow of buying interests. A pop above 3630 may prompt more intraday sellers to cover and 3730 is the next resistance.

Orbex
Orbexhttp://www.orbex.com/en/agent/cl/ccc678cb86b9
At Orbex, we are dedicated to serving our clients responsibly with the latest innovations in forex tools and resources to assist you in trading.

Featured Analysis

Learn Forex Trading