News & Analysis
Eightcap CFD technical insights 05/12/17
The US30 and SPX500 made new highs overnight but failed to hold. Are we seeing buyer slow down in the U.S indices?
SPX500 – hit 2665.44 overnight making new highs. The US30 also made new highs in last night’s session. Price has set up a failed high in both markets with divergence. The SPX500 has reconfirmed 2657.63 level as resistance. If today’s candle reverses into a new lower low we could see a correction develop.
AUS200 – continues to trade in a range with a lower high forming and support continuing from 5939 and 5906. Buyers have been doing their best to hold the price up after it broke its trend. Overall this could be seen as a consolidation, but buyers need to hold support.
USOUSD – continues to trade in an ending-diagonal. Buyers have been unable to break $58.93 on two attempts, sellers have $57.20 to beat on the downside to potentially confirm the ending-diagonal. $56.80 seen as possible next level of short-term support to the downside if sellers can gain an imbalance.
Good Trading from Eightcap.
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