Current trend 

S&P 500 index is trading with a slight decrease.

Donald Trump proposed to impose additional duties on Chinese goods worth USD 200 billion, unless Beijing changes its trade policy regarding US products. Only in 2017, China exported goods for USD 505.47 billion to the US market, so it is expected that the PRC will try to find a compromise.

The EU also approved a response regarding US goods valued at 2.8 billion euros, after Donald Trump's administration decided to impose duties on imports of European aluminum and steel.

Today, the publication of the data on the number of initial jobless claims and housing price index is expected in the US.

Support and resistance

Stochastic is at the level of 89 points and indicates a possible correction of the asset.

Resistance levels: 2783.2, 2793.0.

Support levels: 2773.4, 2763.7.

Trading tips

Open short positions after the breakdown of the support level of 2773.4 with take-profit at 2763.7 and stop-loss at 2783.2.

S&P500 index of the American stock exchange

BuySellSpread
2795.62795.24

Scenario

TimeframeDay's Range
RecommendationsSELL STOP
Entry Point2773.0
Take Profit2763.7
Stop Loss2783.2
Support levels2763.7, 2773.4, 2783.2, 2793.0
SPX: general review

The material published on this page is produced by the Claws&Horns Company and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC; furthermore it has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibition on dealing ahead of the dissemination of investment research.

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