S&P500 Forecast: Potential Drop Ahead?
Good day,
Oil broke the level of 71.30 and pulled, targeting the resistance at the level of 75.50. In principle, the asset’s price might get back to the broken level and retest it. Yet potential jump is still ahead.
Gold is trying to jump. However, it might approach the level of 1840.00 and the weekly broken downtrend first. The downtrend is partially shown on the chart. Of course, considering the proximity of uptrend, gold might also jump when the market opens. So, it is interesting to see what might happen next.
The US stock index S&P500 was trying to jump above the level of 4238.25, but the asset’s efforts were to no avail. Last Friday the asset remained below historical level. So far, it seems that the index might undergo the long-awaited correction at which the asset could drop till the level of 4030.00. Therefore, it would be interesting to see what is going to happen in a case of potential drop.
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