S&P 500 fut: Deterioration in the daily technical pattern - Natixis

Sandeep Kanihama FXStreet Contributor

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.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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