#SPX - 1
Currently I see several possible scenarios for the possible price action.
I will do my best to explain every possible move very clear, even though I think it will be a bit tough for me, because of such variety.
***Let’s begin with short term possible scenario.***
***#SPX 1W TF***
I always give as possible play out for Longs, as for Shorts.
In my opinion, if looking at the bigger picture - the Bullish trend will continue, for that I have several reasons. And about that I will write at the end of this article.
*Now about the current chart.*
**Next week**, possible that we will see some range with the continuation of the uptrend.
If you look at **n.1** - I expect that #SPX will have some consolidation above the level **4500$.**
(*This level is SUPER IMPORTANT. I was talking about it in my previous posts. It was standing as a very STRONG resistance for a WHILE.)*
If we see that #SPX is loosing the support at **4500$** in this case, next important level to bounce is at **4395$. (n.2)**
*(It is a new level, I was adding it as a new strong resistance level before, when SPX was in downtrend.)*
And only loosing the support at **4395$,** will bring another crash**. (n.3)**
In this case, I have all important support level already mentioned in the chart.
I will do my best to explain every possible move very clear, even though I think it will be a bit tough for me, because of such variety.
***Let’s begin with short term possible scenario.***
***#SPX 1W TF***
I always give as possible play out for Longs, as for Shorts.
In my opinion, if looking at the bigger picture - the Bullish trend will continue, for that I have several reasons. And about that I will write at the end of this article.
*Now about the current chart.*
**Next week**, possible that we will see some range with the continuation of the uptrend.
If you look at **n.1** - I expect that #SPX will have some consolidation above the level **4500$.**
(*This level is SUPER IMPORTANT. I was talking about it in my previous posts. It was standing as a very STRONG resistance for a WHILE.)*
If we see that #SPX is loosing the support at **4500$** in this case, next important level to bounce is at **4395$. (n.2)**
*(It is a new level, I was adding it as a new strong resistance level before, when SPX was in downtrend.)*
And only loosing the support at **4395$,** will bring another crash**. (n.3)**
In this case, I have all important support level already mentioned in the chart.
Related publications
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.