Markets recovered sharply from their earlier lows on the back of comments from US Trade Representative Jamieson Greer, who told CNBC that Donald Trump was still set to meet Chinese premier Xi Jinping. But it remains to be seen whether the US and China will come to some sort of an agreement, perhaps an extension of the tariff truce. That scenario looks more likely than a complete breakdown into a full-blown trade war. However, the risks are undeniably rising.
Anyway, the SPX500 is now testing key resistance here between 6648 to 6655, marked in yellow on the chart. Unless it goes on to make a higher high above 6677 on this hourly chart, and hold above it, there is still the risk we could see another dip as we head deeper in the US session.
By Fawad Razaqzada, market analyst with FOREX.com
Anyway, the SPX500 is now testing key resistance here between 6648 to 6655, marked in yellow on the chart. Unless it goes on to make a higher high above 6677 on this hourly chart, and hold above it, there is still the risk we could see another dip as we head deeper in the US session.
By Fawad Razaqzada, market analyst with FOREX.com
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Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.