SP 500 Intraday: Choppy

Swissquote Bank Research Team Swissquote Bank Ltd

DAX

Intraday support around 13130.00.

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Pivot (invalidation): 13130.00

Our preference
Long positions above 13130.00 with targets at 13290.00 & 13330.00 in extension.

Alternative scenario
Below 13130.00 look for further downside with 13054.00 & 13000.00 as targets.

Comment
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

SP 500

Choppy.

Pivot (invalidation): 3112.00

Our preference
Long positions above 3112.00 with targets at 3129.00 & 3139.00 in extension.

Alternative scenario
Below 3112.00 look for further downside with 3104.00 & 3096.00 as targets.

Comment
The RSI calls for a rebound.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

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