S&P 500 IndexLong
Waiting patiently for pullback to area of confluence (circle)
Technical analysis:
Price is trading close to the diagonal red channel resistance for quite a while.
Green diagonal + horizontal support areas are crossing, forming a possible long entry at the blue circle.
Yellow cloud is the prediction.
Thin green horizontal line forms a lower support as a possible stop loss.
Fundamental analysis:
A quick research about the nature of indicies reveals that "sToNkS aLwAyS gO uP" (in the long term)
However, rising global tensions support the idea of a nice pullback to previous highs, before price resumes to the main uptrend.
But one should not expect a sudden rise after the pullback(as drawn with the yellow cloud) due to unknown severity of nuclear winter (which on the other hand could be counterbalanced by global warming due to massive C02 release caused by the burning metropoles)
Price is trading close to the diagonal red channel resistance for quite a while.
Green diagonal + horizontal support areas are crossing, forming a possible long entry at the blue circle.
Yellow cloud is the prediction.
Thin green horizontal line forms a lower support as a possible stop loss.
Fundamental analysis:
A quick research about the nature of indicies reveals that "sToNkS aLwAyS gO uP" (in the long term)
However, rising global tensions support the idea of a nice pullback to previous highs, before price resumes to the main uptrend.
But one should not expect a sudden rise after the pullback(as drawn with the yellow cloud) due to unknown severity of nuclear winter (which on the other hand could be counterbalanced by global warming due to massive C02 release caused by the burning metropoles)
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