USA 500 index passes below 4,000.00

Source: Dukascopy Bank SA


On May 8th, the US 500 stock index passed below the support zone at 4,035.00/4,065.00. Afterwards, as the index passed below the 4,000.00 mark, the previous support zone was confirmed as resistance.

A continuation of the decline of the index is highly likely set to look for support in the 3,830.00/3,870.00 zone, which impacted the index in early 2021. Further below, take into account the January 2021 low and November 2020 high level at 3,670.00.

On the other hand, a potential recovery is expected to encounter resistance in the 4,000.00 mark and the 4,035.00/4,065.00 zone. Higher above, the 4,100.00/4,150.00 area could stop a surge.
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