S&P 500 May Start The Downtrend Below 3307.25 With A Target To 3296.50

S&P 500, ES futures market, Tuesday forecast, January 21

Uptrend

The uptrend may be expected to continue, while the S&P 500 is trading above support level 3307.25, which will be followed by reaching resistance level 3318.25 and if it keeps on moving up above that level, we may expect the S&P 500 to reach resistance level 3326.

Downtrend

A downtrend will start as soon, as the S&P 500 drops below support level 3307.25, which will be followed by moving down to support level 3296.50.

(Click on image to enlarge)

Weekly forecast, January 20 - 24

Most important news of this week

  • Monday: United States - Martin Luther King, Jr.
  • Tuesday: EU ZEW Economic Sentiment (Jan)
  • Wednesday: US Existing Home Sales (Dec)
  • Thursday: EU Deposit Facility Rate (Jan), EU ECB Monetary Policy Statement, EU ECB Press Conference, Crude Oil Inventories
  • Friday: EU German Manufacturing PMI (Jan), EU Manufacturing PMI (Jan), US Manufacturing PMI (Jan)

Forecast and technical analysis

Uptrend

The uptrend may be expected to continue, while the S&P 500 is trading above support level 3305, which will be followed by reaching resistance level 3330.25 and if it keeps on moving up above that level, we may expect the S&P 500 to reach resistance level 3354.

Downtrend

A downtrend will start as soon, as the S&P 500 drops below support level 3305, which will be followed by moving down to support level 3275.50 - 3263.25.

(Click on image to enlarge)

Monthly forecast, January - February

Uptrend

The uptrend may be expected to continue, while the S&P 500 is trading above support level 3198, which will be followed by reaching resistance level 3263 and if it keeps on moving up above that level, we may expect the S&P 500 to reach resistance level 3312.

Downtrend

A downtrend will start as soon, as the S&P 500 drops below support level 3198, which will be followed by moving down to support level 3155 and if it keeps on moving down below that level, we may expect the S&P 500 to reach support level 3069.

1 2
View single page >> |

Disclaimer: All information provided by Anton Kolhanov is for informational purposes only. Information provided is not meant as investment advice nor is it a recommendation to Buy or Sell securities. ...

more
How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.