Technical analysis – US 500 index holds within bullish channel despite Trump’s comments
Posted on October 7, 2020 at 7:33 am GMTThe US 500 index (cash) gave up all its gains on Tuesday, which reached an almost one-month high of 3,430, to close lower following Trump’s stimulus comments. In the four-hour chart, the 50- and 100-period simple moving averages (SMAs) provided a strong footing, keeping the upward pattern in the very short-term picture intact and the price within an ascending channel. Should the 20-period SMA give way, the index could take a rest around the 3,412 resistance region before targeting the upper bound [..]