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📈US500 tests 3,900 area

2:09 PM 2 March 2021

S&P 500 futures test key resistance at 3,900 pts ahead of US session

US500 has trimmed losses during the European session and trades around 0.2% lower an hour before the US cash session begins. Upbeat session in Europe should have a positive impact on the beginning of the US session. From a technical point of view, US500 painted a pin bar pattern on H4 interval near 8-, 14- and 50-period moving averages. Moreover, US500 is recovering above 23.6% retracement - it used to be an important support level in the 10-18 February period. Traders should also pay bigger attention to situation on the US bond market.

 

Source: xStation5

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