The S&P500 along with other stock indexes sharply fell yesterday: the S&P500 fell by 4.46% - the sharpest fall since August 10th (last week), during the same week
Printable View
The S&P500 along with other stock indexes sharply fell yesterday: the S&P500 fell by 4.46% - the sharpest fall since August 10th (last week), during the same week
S&P 500 stock index futures are pointing aggressively lower ahead of the opening bell in North America, hinting the bears may not be ready to take a break just yet.
Prices retraced 50% of the 7/26-8/9 decline, put in a bearish Shooting Star candlestick, and sank to Fibonacci extension support at $79.42.
the oil market reacts very sharply to the shifts in directions of the US stock markets. Due to the falls in US stock markets, oil prices fell very sharply yesterday. Today, the Canadian core consumer price index will be published.
Prices retraced 50% of the 7/26-8/9 decline, put in a bearish Shooting Star candlestick, and sank to Fibonacci extension support at $79.42.
This barrier is reinforced by the lower boundary of a falling channel in place since early May (now at $77.63), with a break below it exposing $76.48 and $73.43. A bounce sees initial resistance at $83.07.
the oil market reacts very sharply to the shifts in directions of the US stock markets. Due to the falls in US stock markets, oil prices fell very sharply yesterday. Today, the Canadian core consumer price index will be published.
Prices retraced 50% of the 7/26-8/9 decline, put in a bearish Shooting Star candlestick, and sank to Fibonacci extension support at $79.42.
S&P 500 stock index futures are pointing aggressively lower ahead of the opening bell in North America, hinting the bears may not be ready to take a break just yet.
The correlation between oil and S&P500 isn't reliable but was very strong and positive in recent months including August so far. This means, as the Stock market falls, oil prices soon follow and decline as well. If the S&P500 will continue to fall today, it might further push down oil.
as we can see from the chart , the pair has stated it's trading week above the level of 82 and that's mean that the up trend is expected this week and the pair might head to 83 and then 85