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S&P 500 Price Forecast August 30, 2017, Technical Analysis
Updated: Aug 30, 2017, 04:17 GMT+00:00
The S&P 500 gapped lower at the open on Tuesday, reaching towards the 2425 level. This is an area that seems to be well supported though, and with
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The S&P 500 gapped lower at the open on Tuesday, reaching towards the 2425 level. This is an area that seems to be well supported though, and with this being the case the market had bounce rather significantly. We have filled the gap, and now the question is where we go next? Ultimately, I believe that a lot of the fear in the North Korean trade has already left, but I think that the 2450 level above will be resistive. Ultimately, some type of exhaustive candle is a selling opportunity between here and there. However, I don’t think that the 2425 level is going to get broken down quickly though. With this being the case, I expect more choppy volatility ahead.
S&P 500 Video 30.8.17
About the Author
Christopher LewisSenior Analyst
Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
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