SPX: Bullish reaction above a support. What to expect next?
• The index is trying to react this morning, and the timing of this reaction is quite good, after all, it is just above our support area, which I mentioned yesterday;
• What’s more, yesterday’s candlestick indicates stabilization, while the 21 ema was working as a resistance;
• Now, the index is just moving according to our previous analysis, and if it closes above the 21 ema again, it might bounce to the 4,083;
• The 4,083 is a key resistance and it was a gap area;
• Only if the index loses the 3,911 I see this bull trend getting weaker. So far, nothing new or surprising is going on. Another update tomorrow.
Remember to follow me to keep in touch with my daily analyses!
• What’s more, yesterday’s candlestick indicates stabilization, while the 21 ema was working as a resistance;
• Now, the index is just moving according to our previous analysis, and if it closes above the 21 ema again, it might bounce to the 4,083;
• The 4,083 is a key resistance and it was a gap area;
• Only if the index loses the 3,911 I see this bull trend getting weaker. So far, nothing new or surprising is going on. Another update tomorrow.
Remember to follow me to keep in touch with my daily analyses!
⚠️ Want to take your trading to the next level?
👉 Join the Finance Hydra VIP Mentorship - 6 weeks of mentoring with weekly meetings and ongoing support. Limited places available!
✅ Find out more and sign up: thefinancehydra.com
👉 Join the Finance Hydra VIP Mentorship - 6 weeks of mentoring with weekly meetings and ongoing support. Limited places available!
✅ Find out more and sign up: thefinancehydra.com
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.