S&P500 Technical Analysis: US stocks dip to 2,805.00 level

Flavio Tosti Independent Analyst

S&P500 daily chart

The S&P500 is trading above its main simple moving average suggesting bullish momentum.

S&P500 4-hour chart

The S&P500 is trading between the 100 and 200 SMAs suggesting a consolidation in the medium-term.

S&P500 60-minute chart

The S&P500 found support at 2,805.00 level.
To the upside, resistance is seen at 2,830.00, 2,840.00 level and 2,850.00 level.
Further down 2,790.00 is seen as next support if 2,805.00 is broken.

Additional key levels

SP 500

Overview
Today last price	2815
Today Daily Change	-41.50
Today Daily Change %	-1.45
Today daily open	2856.5

Trends
Daily SMA20	2797.41
Daily SMA50	2745.08
Daily SMA100	2681.86
Daily SMA200	2756.53

Levels
Previous Daily High	2861
Previous Daily Low	2809.25
Previous Weekly High	2831
Previous Weekly Low	2746.5
Previous Monthly High	2814.25
Previous Monthly Low	2681.75
Daily Fibonacci 38.2%	2841.23
Daily Fibonacci 61.8%	2829.02
Daily Pivot Point S1	2823.5
Daily Pivot Point S2	2790.5
Daily Pivot Point S3	2771.75
Daily Pivot Point R1	2875.25
Daily Pivot Point R2	2894
Daily Pivot Point R3	2927

Author

Flavio Tosti

Independent Analyst

EUR/USD off highs, back to 1.1850

EUR/USD loses some upside momentum, returning to the 1.1850 region amid humble losses. The pair’s slight decline comes against the backdrop of a marginal advance in the US Dollar as investors continue to assess the latest US CPI readings.

GBP/USD advances to daily tops around 1.3650

GBP/USD now manages to pick up extra pace, clinching daily highs around 1.3650 and leaving behind three consecutive daily pullbacks on Friday. Cable’s improved sentiment comes on the back of the inconclusive price action of the Greenback, while recent hawkish comments from the BoE’s Pill also collaborates with the uptick.

Gold surpasses $5,000/oz, daily highs

Gold is reclaiming part of the ground lost on Wednesday’s marked decline, as bargain-hunters keep piling up and lifting prices past the key $5,000 per troy ounce. The yellow metal’s upside is also propped up by the lack of clear direction around the US Dollar post-US CPI release.

Crypto Today: Bitcoin, Ethereum, XRP in choppy price action, weighed down by falling institutional interest

Bitcoin's upside remains largely constrained amid weak technicals and declining institutional interest. Ethereum trades sideways above $1,900 support with the upside capped below $2,000 amid ETF outflows.

Week ahead – Data blitz, Fed Minutes and RBNZ decision in the spotlight

US GDP and PCE inflation are main highlights, plus the Fed minutes. UK and Japan have busy calendars too with focus on CPI. Flash PMIs for February will also be doing the rounds. RBNZ meets, is unlikely to follow RBA’s hawkish path.

Ripple Price Forecast: XRP potential bottom could be in sight

Ripple edges up above the intraday low of $1.35 at the time of writing on Friday amid mixed price actions across the crypto market. The remittance token failed to hold support at $1.40 the previous day, reflecting risk-off sentiment amid a decline in retail and institutional sentiment.