S&P500 Eyes August Low After Failing to Hold Above 50-Day SMA
The S&P500 trades to a fresh monthly low (4398) after struggling to hold above the 50-Day SMA (4485), and the index may continue to give back the advance from the August low (4335) amid the flattening slope in the moving average.
S&P500 Index Outlook
The S&P500 is under pressure following the string of failed attempts to push back above the 4510 (100% Fibonacci extension) to 4530 (78.6% Fibonacci retracement) area, with a break/close below the 4310 (61.8% Fibonacci retracement) to 4360 (78.6% Fibonacci extension) region opening up 4240 (61.8% Fibonacci extension).
Nevertheless, the index may face range-bound conditions if it defends the August low (4335), with a breach above the moving average bringing the 4510 (100% Fibonacci extension) to 4530 (78.6% Fibonacci retracement) area back on the radar.
S&P500 Index Outlook
The S&P500 is under pressure following the string of failed attempts to push back above the 4510 (100% Fibonacci extension) to 4530 (78.6% Fibonacci retracement) area, with a break/close below the 4310 (61.8% Fibonacci retracement) to 4360 (78.6% Fibonacci extension) region opening up 4240 (61.8% Fibonacci extension).
Nevertheless, the index may face range-bound conditions if it defends the August low (4335), with a breach above the moving average bringing the 4510 (100% Fibonacci extension) to 4530 (78.6% Fibonacci retracement) area back on the radar.
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.