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29.01.2025 10:46 AMThe S&P 500 Futures CFD is rebounding strongly after a brief dip on Monday, driven by news of Chinese company DeepSeek's successes in the AI sector. Traders clearly used the news as an excuse to lock in profits from earlier gains and resume buying stocks at more attractive lower price levels.
Following the Fed meeting, which is expected to deliver no surprises, the trading instrument is likely to extend its gains.
Technical outlook and trading tips:
The price is above the middle line of the Bollinger Bands, as well as above the SMA 5 and SMA 14, which, through their crossover, signal a buying opportunity. The RSI is above the 50% level and continues to rise, also signaling a buying opportunity. The Stochastic indicator is entering overbought territory.
A break above the 6,068.65 level paves the way for further gains to 6,099.40 and then to 6,124.80.
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