NEWS: USA500 price increased 1.5%. All American equity markets are going vertical right now on hopes of more fiscal stimulus from the U.S. Congress since it is very likely that the Democrats will win the last Senate race in Georgia and control Congress and the White House for the first time since 2010.
Possible Scenarios:
If USA500 fails to breach through R2 of 3759.38, our Research Department expects the USA500 to undergo a short-term downward correction.
If USA500 manages to break above its R2 of 3759.38, our Research Department expects the USA500 to extend its gains to its R3 of 3775.4.
Support and Resistance Levels:
USA500 |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
3668.6 |
3684.62 |
3700.64 |
3722 |
3743.36 |
3759.38 |
3775.4 |
Potential Profit or Potential Loss Calculations:
10 points per 1 trading lot* |
USD |
EUR** |
GBP*** |
||
(+/-) $100 |
(+/-) €81.45 |
(+/-) £60.08 |
*1 trading lot is equivalent of 10 units
**EUR/USD = 1.22780
***GBP/USD = 1.35555
Calculations for exchange rate used as of 15:56 (GMT) 06/1/2021