S&P 500 fut: Deterioration in the daily technical pattern - Natixis
|According to Micaella Feldstein, Research Analyst at Natixis, the break below 2350-2355 (daily Bollinger lower band) level for S&P 500 fut has triggered a deterioration in the daily technical pattern.
Key Quotes
“Indeed, a downside bubble threatens to emerge on the daily chart, the daily indicators have turned around and in the weekly chart, the stochastic has turned bearish.”
“Against this backdrop, we recommend being vigilant with an eye on the support at 2323 (50-day moving average) whose break would provide fresh bearish momentum to 2300-2308 and the supports at 2282-2289 (weekly Bollinger moving average).”
“The resistances are located at 2341-2344, at 2350-2355, at 2370 and at 2390.”
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