fxstreet.com 04 Feb, 2021 14:15 am

High-level consolidation phase to develop beneath 3850 – Credit Suisse

High-level consolidation phase to develop beneath 3850 – Credit Suisse
The S&P 500 Index edged a little higher on Wednesday but it is expected to stay capped at 3850 for now for a high-level consolidation phase following

See – S&P 500 Index: Recent comparisons to the tech bubble are misplaced – Morgan Stanley Key quotes “S&P 500 still remains capped at what we see as more important resistance at the 3837/50 price gap.” “Support moves to 3817 initially, then the price gap from Tuesday morning at 3792/73.FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements.It also does not guarantee that this information is of a timely nature.

The S&P 500 Index edged a little higher on Wednesday but it is expected to stay capped at 3850 for now for a high-level consolidation phase following its bearish “reversal week”, with support seen at 3792/73.With a large bearish ‘reversal week’ in place our bias remains for this to continue to cap for now for a phase of high-level consolidation.

Read full story at fxstreet.com