S&P500 Forecast: Potential Jump Ahead?
The US stock index S&P500 has pulled from the resistance at the level of 4580.00 and dropped. There is a broken downtrend on South. The downtrend might offer significant support to the asset’s price, advancing its reversal and jump. Hence, it is important to follow the candlestick formations around the broken downtrend.
Brent oil is heading downwards, targeting the supporting level of 97.00. On the other side, a triangle is about to form soon. So, it is likely that oil might pull from the level of 97.00 and jump.
The USD/CAD pair has tested the supporting level of 1.2450 for the second time in a row, leaving a candle with a very long shadow behind. In principle, it is obvious that the lower boundary of the range did not break. Therefore, the asset’s price is likely to jump till the level of 1.2870.
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