S&P Global's prevailing uptrend now faces a challenge at $385.47 as resistance

• Price action is gradually approaching a key resistance hurdle at $385.47
• The lower Bollinger Band® is currently at $351.14 while the higher band is at $386.71

S&P Global has posted further gains as part of a 12 day trend that has already seen the stock gain $25.96. Yesterday's session pointed in the same direction — bullish sentiment helped the ratings, benchmarks, analytics and data provider to hammer out a noteworthy $381.4 to $385 range yesterday, and finally closing at $384 to end the session.

The stock has been trending positively for about 2 months. The ratings, benchmarks, analytics and data provider now trading 15.08% above its 3-month low of $286.62.

Analysis of S&P Global's recent price action suggests S&P Global could be slowing down soon as it approaches resistance at $385.47. Of course, crossing it might suggest further gains are ahead. Trend-focused traders would be interested to note that the Commodity Channel Index (CCI) indicator is above +100, meaning the market price is unusually high compared to the rolling average. According to asset volatility analysis, S&P Global's upper Bollinger Band® is at $386.71, this is a slight indication of a slowdown.

Notwithstanding S&P Global's appreciation in recent days, the technical outlook suggests its bullish run is now fading.

Fundamental indicators – United States CFTC Crude Oil speculative net positions released yesterday at 20:30 UTC with a figure of 172,400, while the previous figure was 162,600.

This rally in S&P Global's share price coincided with other financials stocks as HDFC Bank Limited traded at $65.65 after closing yesterday's trading day at $64.68 (up 1.5%). Royal Bank Of Canada was up 0.53%.

S&P Global went up yesterday, yet these financials stocks did not follow — Wells Fargo & Company went down 0.57%, closed at $42.37.