The S&P 500 closed last week just above the 3000 level. Randy Frederick from Charles Schwab expects the index to consolidate around the 3021 200-DMA but a break of the 3138 resistance could trigger another pullback in the end. Key quotes “The S&P 500 seems to be stuck in ‘two steps forward; one step back’ mode. Just as it seemed to be getting its footing after the 7.1% pullback 2 weeks ago, a new wave of coronavirus cases has thrown a chill on the rebound.” “The new consolidation zone is been supported by the 200-day SMA at 3021 but finding resistance around 3138. Like before, a sharp breakout to the upside could set up another pullback, so let’s hope it stays in this zone long enough to get this new virus outbreak under control.” 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 GBP/USD: Will Boris’ boost lift the pound? Five reasons to doubt it as the pair trends down Yohay Elam 2 years The S&P 500 closed last week just above the 3000 level. Randy Frederick from Charles Schwab expects the index to consolidate around the 3021 200-DMA but a break of the 3138 resistance could trigger another pullback in the end. Key quotes “The S&P 500 seems to be stuck in ‘two steps forward; one step back’ mode. Just as it seemed to be getting its footing after the 7.1% pullback 2 weeks ago, a new wave of coronavirus cases has thrown a chill on the rebound.” “The new consolidation zone is been supported by the 200-day SMA at 3021 but finding… 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.
