S&P 500 Index can see a base and a deeper recovery on a break above 3807/10 – Credit Suisse SP500 Banks
“Support at 3687/77 holding can see the immediate risk stay higher for strength back to 3763 and then the current October high and 38.2% retracement of the August/October fall at 3807/10. Beyond here is needed to mark a near-term base though and a more concerted recovery for a test of the 630-day average, currently at 3947.”
“Below 3687 can instead raise the likelihood we are set to see a more choppy sideways phase and a retest of the 200-week average at 3606/04.”Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions.
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