The S&P Index is set for a deeper correction after it broke below the lower limit of the channel.
The closest resistance is at the $1,359.2 and the bears are probably waiting for a better price to sell. The one thing that can keep the prices up will be the agreement of the private creditors over the Greek debts.
Technically speaking, the market seems to have started a broader correction that will find support in the Fibonacci retracements levels (1,336.6, 1,,310.9, 1,290.2, 1,269.5).
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