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S&P500 Technical Analysis: A correction might be coming

S&P500 daily chart

  • The S&P500 index is trading above its main simple moving averages (SMAs) suggesting a bullish momentum.


S&P500 4-hour chart

  • The S&P500 is trading above its main SMAs suggesting a bullish bias in the medium-term.

S&P500 60-minute chart

  • The S&P500 is having a hard time to overcome 2,900.00 resistance while the 100 SMA crossed above the 50 SMA. 
  • If bears have a daily close below 2,870.00 the market can decline towards 2,860.00 and 2,840.00 support. 
  • To the upside, resistance is at 2,886.00 and 2,900.00 key resistance.


Additional key levels

 

US Dollar Index seen around 98.5 by the second half of the year - Westpac

Relative growth comparisons and broad market sentiment remained supportive of the US dollar this month, explained Westpac analysts. They expect this w
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AUD/NZD Technical Analysis: Rally still in place but losing momentum

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