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Investment Recommendations April 18th

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Investment Recommendations April 18th


S&P 500: Short-Term Sell

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S&P 500 futures, 4-Hour Chart Analysis

The index remains below the line-in-the-sand zone between $2350 and $2355 and the low volume bounce on Monday creates a good short-term opportunity to place a short trade. The prior leader of the global rally, the DAX is still trending lower, and the US indices are likely to follow suit.

The declining short-term trend-line provides resistance near 2345, while primary support stands just below the current price at 2332. A re-test of the 2319 level is likely, while the 2308 level serves as a target for the next possible swing lower. A move above 2350 would likely lead to a re-test of the declining major trend-line.

USD/CAD: Short-Term Buy (update)


USD/CAD, 4-Hour Chart Analysis

The pair respected the long-term uptrend line as we expected, and rallied strongly after hitting the strong support zone around the 1.3250 level. The short-term setup remains bullish, and the move higher justifies a higher stop-loss level near the prior 4-hour swing low.

The declining trend-line resistance near 1.3410-1.3420 is still provides an ideal initial target. Longer-term traders might look for a re-test of the 1.3515 level, with a slightly wider stop-loss level. Primary resistance is still found near 1.3450, while a move below 1.32 would be a very bearish development.

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Mate Cser

Mate Cser

Trader and financial analyst, with 10 years of experience in the field. An expert in technical analysis and risk management, but also an avid practitioner of value investment and passive strategies, with a passion towards anything that is connected to the market.

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