S&P 500 Technical Analysis: Bears stick to the 3-month’s low

Flavio Tosti Independent Analyst

S&P500 daily chart

The S&P500 is in a bear trend below the 200-day simple moving average (SMA).
The S&P500 is trading near the 3-month’s low as technical indicators are turning bearish.
If bulls can hold prices above 2,600.00 then 2700.00 is the bull target. Alternatively, to the downside 2,570.00 can be next.

Additional key levels

SP 500

Overview:
    Today Last Price: 2634.75
    Today Daily change: -6.0e+3 pips
    Today Daily change %: -2.22%
    Today Daily Open: 2694.5
Trends:
    Previous Daily SMA20: 2705.82
    Previous Daily SMA50: 2744.54
    Previous Daily SMA100: 2813.47
    Previous Daily SMA200: 2766.2
Levels:
    Previous Daily High: 2715.25
    Previous Daily Low: 2621
    Previous Weekly High: 2764
    Previous Weekly Low: 2629.8
    Previous Monthly High: 2818.75
    Previous Monthly Low: 2626
    Previous Daily Fibonacci 38.2%: 2657
    Previous Daily Fibonacci 61.8%: 2679.25
    Previous Daily Pivot Point S1: 2638.58
    Previous Daily Pivot Point S2: 2582.67
    Previous Daily Pivot Point S3: 2544.33
    Previous Daily Pivot Point R1: 2732.83
    Previous Daily Pivot Point R2: 2771.17
    Previous Daily Pivot Point R3: 2827.08

Author

Flavio Tosti

Independent Analyst

EUR/USD tests nine-day EMA support near 1.1850

EUR/USD remains in the negative territory for the fourth successive session, trading around 1.1870 during the Asian hours on Friday. The 14-day Relative Strength Index momentum indicator at 56 stays above the midline, confirming steady momentum. RSI has eased but remains above 50, indicating momentum remains constructive for the bulls.

GBP/USD consolidates around 1.3600 vs. USD; looks to US CPI for fresh impetus

The GBP/USD pair remains on the defensive through the Asian session on Friday, though it lacks bearish conviction and holds above the 1.3600 mark as traders await the release of the US consumer inflation figures before placing directional bets.

Gold: Will US CPI data trigger a range breakout?

Gold retakes $5,000 early Friday amid a turnaround from weekly lows as US CPI data loom. The US Dollar consolidates weekly losses as AI concerns-driven risk-off mood stalls downside. Technically, Gold appears primed for a big range breakout, with risks skewed toward a bullish break.

Bitcoin, Ethereum and Ripple stay weak as bearish momentum persists

Bitcoin, Ethereum and Ripple remain under pressure, extending losses of over 5%, 6% and 4%, respectively, so far this week. BTC trades below $67,000 while ETH and XRP correct after facing rejection around key levels. With bearish momentum persisting and prices staying weak, the top three cryptocurrencies continue to show no clear signs of a sustained recovery.

A tale of two labour markets: Headline strength masks underlying weakness

Undoubtedly, yesterday’s delayed US January jobs report delivered a strong headline – one that surpassed most estimates. However, optimism quickly faded amid sobering benchmark revisions.

Aster Price Forecast: Demand sparks on Binance Wallet partnership for on-chain perpetuals

Aster is up roughly 9% so far on Thursday, hinting at the breakout of a crucial resistance level. Aster partners up with Binance wallet for the second season of the on-chain perpetuals challenge.