S&P 500 Intraday: The downside prevails

DAX

The downside prevails.

DAX


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Pivot (invalidation): 11820.00

Our preference
Short positions below 11820.00 with targets at 11620.00 & 11515.00 in extension.

Alternative scenario
Above 11820.00 look for further upside with 11900.00 & 12000.00 as targets.

Comment
The break below the support at 11820.00 triggered a downward acceleration to 11515.00.

 

S&P 500

The downside prevails.

SP500

Pivot (invalidation): 2830.00

Our preference
Short positions below 2830.00 with targets at 2764.00 & 2735.00 in extension.

Alternative scenario
Above 2830.00 look for further upside with 2853.50 & 2865.00 as targets.

Comment
The RSI is capped by a bearish trend line.

This report has been prepared by AC Markets and is solely been published for informational purposes and is not to be construed as a solicitation or an offer to buy or sell any currency or any other financial instrument. Views expressed in this report may be subject to change without prior notice and may differ or be contrary to opinions expressed by AC Markets personnel at any given time. ACM is under no obligation to update or keep current the information herein, the report should not be regarded by recipients as a substitute for the exercise of their own judgment.