Occurrence of a rising wedge pattern on the S&P 500

Source: Dukascopy Bank SA


Year-to-date, the S&P 500 has risen by more than 25%, reaching all-time highs above 6000.00. The results of the U.S. presidential election have been seen as positive news for the broader market.

However, the occurrence of a rising wedge pattern could signal bearish momentum if the pattern breaks to the downside. If bearish momentum takes hold, price levels of 5878.00 and 5668.00 may be tested as support.

If bullish momentum continues and the wedge pattern breaks to the upside, further price discovery towards 6200.00 is likely.

Week 52 should provide clarity on the macroeconomic situation with the release of Core PPI and Unemployment Claims data from the U.S.
Back to articles

Actual Topics

Mon, 09 Dec 2024 12:37:50 GMT

Descending triangle for Light Sweet Crude Oil

A descending pattern has formed on Light Sweet Crude Oil. The current pattern suggests that a potential move to the downside may occur in the next few days, breaking outside of the pattern. The descending triangle pattern may be considered a signal for a potential downward price movement. If bearish momentum continues and the wedge pattern breaks to the downside,

Tue, 03 Dec 2024 10:05:06 GMT

Stellar tests 0.5390 price level

Donald Trump's victory has positively impacted the crypto market, boosting both Bitcoin and altcoins, with XLM seeing significant price gains. Stellar coin has gained more than 380% since Donald Trump's victory in the U.S. elections. XLM is testing the 50% Fibonacci retracement at the $0.539 price level, and the 61.80% Fibonacci retracement at the $0.4389 level could act as

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.