SPX: Reached its Climax! What's Next? 🤔
• The SPX did correct to the 21 ema, exactly as we expected in my previous analysis (link below this post, as usual);
• Now it is going up again, trying to resume the bullish sentiment, but in order to confirm that, it must break the red line at 4,015;
• If the SPX breaks this red line, it’ll trigger a pivot point, and in this scenario, the next resistance around 4,100 is the next target;
• What could go wrong? If the SPX fails in breaking this red line, and loses the 3,889 again. That could be a Double Top chart pattern;
• As long as it stays above its support levels, it’ll be fine, but a true reversal would only come if we trigger the pivot point;
• I’ll keep you updated on this.
Remember to follow me to keep in touch with my daily analyses!
• Now it is going up again, trying to resume the bullish sentiment, but in order to confirm that, it must break the red line at 4,015;
• If the SPX breaks this red line, it’ll trigger a pivot point, and in this scenario, the next resistance around 4,100 is the next target;
• What could go wrong? If the SPX fails in breaking this red line, and loses the 3,889 again. That could be a Double Top chart pattern;
• As long as it stays above its support levels, it’ll be fine, but a true reversal would only come if we trigger the pivot point;
• I’ll keep you updated on this.
Remember to follow me to keep in touch with my daily analyses!
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