SPX500 approaching support, potential bounce!
SPX500 is approaching its support at 2610 (61.8% Fibonacci extension, 76.4% & 61.8% Fibonacci retracement, horizontal swing low support) where a bounce could occur, causing price to rise to its resistance at 2655 (61.8% Fibonacci extension, 61.8% & 38.2% Fibonacci retracement, horizontal overlap resistance).
Stochastic (89, 5, 3) is approaching support where a potential bounce could occur.
Stochastic (89, 5, 3) is approaching support where a potential bounce could occur.
Trade closed: target reached
Price dropped near our stop loss before rising up to our profit target! nice!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.