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S&P 500 Technical Analysis
On the daily chart below, we can see that the 4175 key resistance definitely held and the market couldn’t break above it once again. As the price broke below the trendline, the bias switched to the downside and the sellers started to increasingly piling in targeting the support level at 4061. The last two days of selling were caused by the renewed fears around the banking sector as the First Republic Bank reported a fall of 40% in deposits. Notably, the moving averages have now crossed to the do...
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Posted: Apr 27 2023, 10:29
Author Name: forexlive
Views: 081939