Technical Update - US500 and USNAS100
Kim Cramer Larsson
Technical Analyst, Saxo Bank Group
US500 cfd/future has tested the support at 4,262. The support seems to hold and if it is not broken within the next couple of days we could see a bounce to test the 200 daily SMA around 4,460. If it trades higher than 4,490 the 4,600 resistance is not unlikely to be tested once again.
If sellers can take back control and push the US500 below 4,260 there is support around 4,145 but could drop as low as 3,815-3,660.
Buyers will however, likely try to see if they once again can buy the dip from around 4,220 done 24th January.
USNAS100 cfd/future dipped below support at 13,838 before bouncing back above. If it can close the day above we could see further upside to around 14,500. If sellers can dip the USNAS100 back bleow 13,838 we are likely to see lower levels. Next strong support is around 12,667
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