S&P500 technical analysis: Wall Street in green as Google-Huwaei tensions de-escalate a notch
|- The U.S. Commerce Department announced a 90-day license for mobile phone companies and internet providers to work with Huawei to keep the existing networks online and to protect current users from security risks.
- Google can send software updates to Huawei phones with Android operating system until August 19.
S&P500 daily chart
The S&P500 Index is trading in a bull trend above its 100 and 200-period simple moving averages (SMAs). The index is up as investors as the tensions between Google and Huawei are slightly easing.
S&P500 4-hour chart
The market is consolidating above the 50 SMA.
The level to beat for bulls is 2,870.00 resistance. If the market can break above it then 2,890.00 can be on the cards on Wednesday. On the flip side, if the buyers fail in their attempt, bears can step back in and drive the market towards 2,845.00 and potentially to the 2,835.00 level.
Additional key levels
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.