Current trend

S&P 500 index continues trading in the green area from the opening of Asian session. The nearest important resistance level is at 2750.0. If the price can overcome it, then the next target will be at the level of 2812.5 (Murrey [8/8]).

The information that Berkshire Hathaway under the leadership of Warren Buffett invested part of its capital in the securities of companies such as Oracle, JP Morgan and Travelers Companies was positive for the market. The market was also supported by Cisco, capitalization of which grew by 5% after a strong financial report.

Regarding global news, one can highlight the information that Beijing and Washington can finally resolve the issue of trade duties. US Secretary of Commerce Wilbur Ross said that at the meeting of Donald Trump and Xi Jinping during the G20 summit, which will be held from November 30 to December 1 in Argentina, the foundation may be laid for further cooperation between the two states. Traders will pay attention to data on the US housing index.

Support and resistance

Stochastic is at 75 points and does not provide a signal for the opening of positions.

Resistance levels: 2750.0, 2779.2.

Support levels: 2704.9, 2695.3.

Trading tips

Long positions may be opened from 2750.0 with take profit at 2779.2 and stop loss at 2725.0.

S&P500 index of the American stock exchange



TimeframeDay's Range
RecommendationsBUY STOP
Entry Point2750.0
Take Profit2779.2
Stop Loss2725.0
Support levels2695.3, 2704.9, 2750.0, 2779.2
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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