Strong day for S&P Global fails to inspire assault on key resistance at $350.17; currently $7.38 away

• Price action backs away from resistance at $350.17 despite bullish mood
• The lower Bollinger Band® is currently at $330.97 while the higher band is at $348.19

Signs of life: 6 days of level trading might be coming to an end with a gain of 1.05% today Yesterday's session shows improvement: after ending Tuesday at $341.91, S&P Global spiked to $347.55 yesterday, dropped back to starting point range, and rallied again to $342.79.

The stock has been trending positively for about 30 days. S&P Global hit a significant low of $286.62 around 5 months ago, but has since recovered 19.29%.

Although S&P Global is appreciating today after rising as high as $347.55, price action is now slowing and consolidating around $7.38 below the $350.17 resistance level. Despite posting gains on yesterday, S&P Global slid below its 200 day Simple Moving Average at $346 during the last session — an early indicator that a negative trend could be emerging. Bollinger Band® analysis indicates that current price action is approaching the upper band at $348.19, thereby suggesting that S&P Global is becoming overvalued.

Examining the technical analysis landscape, S&P Global is likely to reverse course and start pointing downward in the short term.

Fundamental indicators – United States Crude Oil Inventories beat the -583,000 projections, with 597,000.

This rally in S&P Global's share price coincided with other financials stocks as HDFC Bank Limited was up 1.69%. Goldman Sachs added 0.88% to its value, and traded at $330.24.

While S&P Global was bullish yesterday, the following financials stocks underperformed: American Express went down 1.57%, closed at $161.83.

Upcoming fundamentals: United States Producer Price Index is projected to outperform its last figure with 0.1%. It previously stood at -0.1%; data will be released today at 12:30 UTC.