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S & P500 – Fly Down? The market is waiting!

Good day!

Oil broke through and pushed off the horizontal at 71.30, and is confidently looking towards the resistance level of 75.50. In principle, next week the price may still go down, test the broken level, but the upward movement on “black gold” is still a trend:

Gold is trying to develop an upward movement, but so far, a re-entry to the level of 1840.00 is seen, where the broken weekly downtrend channel also passes (partially shown on the chart). Of course, gold can go further up at the opening of the market, given the proximity of the ascending channel, but the price is worth watching:

S & P500 - flying down?  The market is waiting!

The S & P500 tried to break above 4238.25, but nothing came of it. Friday was closed under the historical horizontal line. For the time being, we leave the base scenario the same – a correction, moreover, a long-overdue one. It is worth mentioning right away that the nearest target for the decrease of the index is 4030.00. Therefore, the formation of a downward movement after the market opens is a rather interesting option:

S & P500 - flying down?  The market is waiting!

Oleg Svirgun,
analyst at Tickmill brokerage company

Fidenge Pecold

My profession is a journalist, but my hobby for 8 years has been studying Forex investing and trading. During this time, I managed to gain extensive experience in investing and trading cryptocurrencies and double my capital in the Forex market. To be the author of this magazine, the site owners invited me to participate in one of the 2020 trading webinars, and I will try to reveal the most relevant crypto market news for you.

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