Bearish session for S&P Global insufficient to test key support at $321.71

• Nearest support line of $321.71 is only $4.83 away
• Falling prices have precipitated S&P Global's approach to its lower Bollinger Band® at $321.9

Over the last 5 days, S&P Global has fallen 7.05%. More of the same from Friday's session: a tough session dominated by bearish sentiment left S&P Global $7.39 lower, while setting a $325.25 to $338.45 session range.

Pointing downwards for around a month. S&P Global hit a significant low of $286.62 around 4 months ago, but has since recovered 16.51%.

Concerning technical analysis and more specifically, trend indicators, the Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. Asset volatility analysis shows that Bollinger Bands® shows an indication of recovery: the lower band is at $321.9, a low enough level to, generally, suggest that S&P Global is trading below its fair value. Visual analysis of S&P Global's chart shows that S&P Global could begin to recover as it approaches significant support, now $4.83 away from $321.71. Dipping below could be an indication that further losses are ahead.

With market volatility ebbing, the current technical outlook indicates S&P Global will remain range-bound for the immediate future.

S&P Global was not the only decliner in the financials sector; The Charles Schwab closed at $58.7 (down 11.69%). HSBC Holdings closed at $35.31 (down 3.84%). Goldman Sachs lost 4.22% Friday and closed at $327.67.