S&P500: Potential Drop Ahead?

Good day,Having approached the level of 4200 for the third time in a row, American stock index S&P500 did not manage to break this level, remaining in the below. So far, we feel that a bullish trap might form, bringing the asset prices down. And this is exactly what is happening right now.The price of currency pair EUR/USD keeps pulling from the level of 1.2243. At that, the asset is trying to close the trading day with a bearish engulfing. The price of Euro might potentially hit the level of 1.2000.Currently, gold is touching the upper boundary of newly formed uptrend. Gold might undergo correction and drop. The asset might pull from the uptrend and head North afterwards.Disclaimer: The material provided is for information purposes only and should not be considered as investment advice. The views, information, or opinions expressed in the text belong solely to the author, and not to the author’s employer, organization, committee or other group or individual or company.High Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% and 65% of retail investor accounts lose money when trading CFDs with Tickmill UK Ltd and Tickmill Europe Ltd respectively. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/sp500-potential-drop-ahead-27052021"
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