S&P 500 levels: The upside prevails

DAX

The bias remains bullish.

Dax

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Pivot (invalidation): 11950.00

Our preference
Long positions above 11950.00 with targets at 12130.00 & 12210.00 in extension.

Alternative scenario
Below 11950.00 look for further downside with 11880.00 & 11800.00 as targets.

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

 

S&P 500

The upside prevails.

S&P 500

Pivot (invalidation): 2892.00

Our preference
Long positions above 2892.00 with targets at 2916.75 & 2925.00 in extension.

Alternative scenario
Below 2892.00 look for further downside with 2880.00 & 2866.00 as targets.

Comment
The RSI is supported by a bullish 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.