Charts: S&P Could Push Toward 1,175

The S&P 500 is close to breaking out of its long-term falling trend and could be set to push higher toward 1,175 points, Roelof van den Akker, chartist at ING Wholesale Banking, told CNBC.

Charts: S&P Could Rise Toward 1,175
Charts: S&P Could Rise Toward 1,175   

"We could see some further upside potential within the S&P and after the completion of the short-term trading range of 1,118 (points) we could see a further rise to the next horizontal resistance level," he said.

That key level is at 1,175 points, according to van den Akker. The S&P closed at 1,114 points on Monday.

"A close above 1,118 would confirm the break out of the longer-term falling trend line for the next rise towards around 1,175," he said.

- Watch the video above to see Roelof van den Akker's view on the euro versus the dollar.

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