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