S&P 500 Index: Defending 3930/3880 is crucial to avert a deeper pullback – SocGen SP500 Banks
“Formation of a daily bullish engulfing pattern highlights the possibility of a short-term bounce.”
“Defending the 200-DMA at 3930/3880 – which is also the descending trend line drawn since last year and the 38.2% retracement from October – is crucial to avert a deeper pullback.”Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
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