Watch These Key S&P 500 Levels as Benchmark Index Hits Record Highs
Key Takeaways
- The S&P 500 hit a record high on Friday for the first time since February amid optimism about a calmer geopolitical environment and hopes that the U.S. will reach agreements with leading trade partners.
- The index has resumed its longer term uptrend after recently breaking out from a flag pattern, a move that sees the 50-day moving average set to cross above the 200-day moving average this week to form a bullish golden cross signal.
- Bars pattern analysis forecasts a potential overhead target of around 6,460 and indicates the current move higher could last until early August.
- Investors should watch key support levels on the S&P 500’s chart around 6,050 and 5,850.
The S&P 500 (SPX) hit a record high on Friday for the first…
