S&P 500: Correction is finished, as further upside to 2,031 looms - RBS

FXStreet (Łódź) - RBS Technical Analyst Dmytro Bondar points out that the correction has come to an end and closed above the 1,918 gap (futures level).

Key quotes

"As the overall picture remains bullish, after breaking above a key resistance level of 1,900, being the major 161.8% Fibonacci projection from the 2012-2013 impulse wave, which made a strong bullish statement that the index will have steam to reach 2,030 major projected target."

"What changes this view is if the price breaks below 1,860 on a sustained basis."