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The summer surge of the US Small Caps stock index ended at the 2021 late January low level at 2,033.50. The historical low acted as resistance and caused a decline, which by the end of September had reached the June low level at 1,650.00.
A recovery from the 1,650.00 level could be slowed down by the 1,750.00 and 1,800.00 levels, before the index reaches the combination of the 1,850.00 level and the 50 and 200-day simple moving averages.
On the other hand, a decline of the equities might look for support in the 2020 August high level at 1,606.75 and the 1,600.00 mark.
Thu, 29 Sep 2022 13:13:55 GMT
Source: Dukascopy Bank SA
The summer surge of the US Small Caps stock index ended at the 2021 late January low level at 2,033.50. The historical low acted as resistance and caused a decline, which by the end of September had reached the June low level at 1,650.00.
A recovery from the 1,650.00 level could be slowed down by the 1,750.00 and 1,800.00 levels, before the index reaches the combination of the 1,850.00 level and the 50 and 200-day simple moving averages.
On the other hand, a decline of the equities might look for support in the 2020 August high level at 1,606.75 and the 1,600.00 mark.