S&P500, Tuesday forecast, August 27
The uptrend may be expected to continue, while the S&P 500 is trading above support level 2870, which will be followed by reaching resistance level 2895 and if it keeps on moving up above that level, we may expect the pair to reach resistance level 2931.
A downtrend will start as soon, as the S&P 500 drops below support level 2870, which will be followed by moving down to support level 2855 and 2835.
Weekly forecast, August 26 - 30
The downtrend may be expected to continue, while the S&P 500 is trading below resistance level 2895, which will be followed by reaching support level 2816 and if it keeps on moving down below that level, we may expect the pair to reach support level 2748.
An uptrend will start as soon, as the S&P 500 rises above resistance level 2895, which will be followed by moving up to resistance level 2941.
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