S&P Global's price target: $386.56 | Last close: $389.11 | Daily range: $386.44 – $391.42 | Off hours: $389.11

• Ongoing downtrend raises chances of a persuasive break of existing support at $386.56
• Upper Bollinger Band® currently at $7.56

Wells Fargo chart analysis: a convincing break of this target could pave the way for deeper losses.

A persuasive break of this target could lead to higher losses. Despite being in the red so far in the current trading session, S&P Global peaked above its 10 day Simple Moving Average around $387.55 — typically an early indicator of a new bullish trend beginning to emerge.

Technical analysis shows that S&P Global (currently on a downtrend) might reverse course and start going up in the short term.

A convincing break of this target could pave the way for deeper losses.

Around $7.4, Banco Bilbao Vizcaya Argentaria can look to establish a new bullish phase beyond its 3 day Simple Moving Average. Despite this, Banco Bilbao Vizcaya Argentaria's recent run now faces a major challenge as concentrated supply is likely found at $7.46 with price action currently 4 cents away. Banco Bilbao Vizcaya Argentaria's upper Bollinger Band® is now at $7.56.

Overall, looking at the technical analysis landscape, it seems Banco Bilbao Vizcaya Argentaria likely to continue pointing upward in the short term.

Fundamental indicators – new United States Initial Jobless Claims data fell short of the 260,000 projected by analysts with a reading of 264,000 while failing to improve upon the previous reading from last month (264,000).

Upcoming fundamentals: today at 15:00 UTC data for United States Crude Oil Inventories will be released, with an expected decline to 1.87 million from the preceding figure of 7.92 million.