S&P 500 is expected to see a lengthier consolidation and range-trading phase with supports for a setback seen at 3887/84, then more importantly at the 63-day average at 3839, as reported by the Credit Suisse analyst team. See: S&P 500 Index to surge higher to 4100 in the next 12 months – Deutsche Bank Key quotes “The S&P 500 rebound has stalled as suspected and our base case scenario remains that the market is in a broader consolidation phase, and we continue to look for further neutral range trading, albeit with the immediate risk seen slightly lower in the range.” “Key near-term support stays seen at the recent low and 38.2% retracement of the March rally at 3886/84. Beneath here can clear the way for a deeper corrective setback with price support seen at 3874 next, ahead of 3854/52 and then what we view as more important support from the 63-day average, now at 3839, ahead of which we look for a better floor.” “Resistance moves to 3927 initially, then 3937, with a break above 3955 needed for a move back to 3970/80, but with fresh sellers expected here. Above 3984 is needed to reassert the broader uptrend, for 4000 initially.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next The outlook is brighter for palladium than platinum – CE FX Street 1 year S&P 500 is expected to see a lengthier consolidation and range-trading phase with supports for a setback seen at 3887/84, then more importantly at the 63-day average at 3839, as reported by the Credit Suisse analyst team. See: S&P 500 Index to surge higher to 4100 in the next 12 months - Deutsche Bank Key quotes "The S&P 500 rebound has stalled as suspected and our base case scenario remains that the market is in a broader consolidation phase, and we continue to look for further neutral range trading, albeit with the immediate risk seen slightly lower in the… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.