inveslo
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S&P500
Source: Inveslo
- Market sentiment dwindles after extended holidays in the US. S&P500 is consolidating around the sub-3902 area after hitting a dynamic support line resulting from connecting previous higher bottoms.
- Buyers attempt to keep up the index on a positive note for the second day this week.
- If bullish momentum intensifies, the 50-day EMA can serve as resistance.
- A sustained move above this level can lead toward 4215.4 and 4325.8, respectively.
- Alternatively, should the pattern break, the next support can be found at 3723.0 and 3638.1, respectively.
Source: Inveslo
