S&P500 History repeats.. movements are not casual! Bullish
Hi All, my main 3 take-outs from this analysis are the following:
1- 100 Moving Average is still working well as dynamic support and prices are bouncing from there aheading to 4,700
2- It is realistic to think that beginning of 2022 might start with a retracement still towards the support sitting at 4,550, with a movement that might bring to the formation of a lateral continuation channel, but in my opinio the asset is well familiar with this kind of movement and my next closets target would be 4,700.
3- Once the price reaches 4,700 I would count on an extension of the movement towards 4,900, also with the help of Fibanocci extension of the previous upward leg
Not a financial advice, just personal opinion. Do your own due diligence and good luck!
1- 100 Moving Average is still working well as dynamic support and prices are bouncing from there aheading to 4,700
2- It is realistic to think that beginning of 2022 might start with a retracement still towards the support sitting at 4,550, with a movement that might bring to the formation of a lateral continuation channel, but in my opinio the asset is well familiar with this kind of movement and my next closets target would be 4,700.
3- Once the price reaches 4,700 I would count on an extension of the movement towards 4,900, also with the help of Fibanocci extension of the previous upward leg
Not a financial advice, just personal opinion. Do your own due diligence and good luck!
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