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FxWirePro: S&P500 forms hammer pattern,good to buy on dips

Candlestick pattern- Hammer

 

S&P500 has recovered more than 3% from low of 2588 level made yesterday.The index has lost more than 200 points from high of 2813 made on Dec 3rd 2018. The decline was mainly due to declining US bond yield and yield curve inversion. S&P500 hits intraday high of 2665 and is currently trading around 2662.70.

 

 

The near term resistance is around 2680 and any break above targets 2695/2720/2763/280. The index should break 2820 for further bullishness.

 

On the lower side, near term support is around 2580 and any break below targets 2559/2537.

 

It is good to buy on dips around 2635-40 with SL around 2600 for the TP of 2755.

 

 

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January 31 00:00 UTC 510777510777m

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2016 bln ARS

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January 22 19:00 UTC 522597522597m

ARTrade Balance

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-1541 %

January 31 00:00 UTC 510777510777m

ARAnnual Primary Balance*

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Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 510777510777m

ARAnnual Primary Balance*

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Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 510777510777m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

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