USA 500 stocks reach new low level

Note: This section contains information in English only.
Source: Dukascopy Bank SA


In early February, the USA 500 stock index broke the resistance line, which had guided the index down since early January. However, the resistance of the 50-day simple moving average was enough for the stocks to resume their decline.

On March 7, the index had reached and found some support in the 4,150.00 mark. However, note that the round level was pierced on February 24.

A continuation of the decline of the index might find support in the 61.80% Fibonacci retracement level at 4,105.00 and the 4,100.00 mark. The retracement levels are measured by connecting the 2021 low and 2022 high levels. Further below, the 2021 May low level zone at 4,030.00/4,065.00.

On the other hand, a recovery of the United States stocks could encounter resistance in the January low level at 4,225.00 and the 50.00% Fibonacci retracement level at 4,240.00. Higher above, the 4,400.00 mark might stop a surge.
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