Trade Idea on S&P 500
I have been following the movement of the S&P 500 closely over the last couple of weeks and with the re-test of the triangle breakout we need a close above the 2742 level to trigger our long trade.
Take note: Factors to be aware of will be movement on the Dollar (DXY), the increasing U.S 10-year Bond yield and the volatility we have seen in the Oil price over the last two weeks can affect the outlook on the S&P 500 index.
Full trade and chart detailed below:
Trade: S&P 500
- Entry (Buy): 2750
- Stop loss: 2710
- Target price 1: 2802
Source: Bloomberg
Disclaimer: Any opinions, news, research, analyses, prices, or other information contained within this research is provided as general market commentary, and does not constitute investment advice. GT247.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information. The content contained within is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
