Technical rebound occurred. Test area: rebound or new bull phase
Updated
As estimated in the last analysis (it.tradingview.com/chart/SPX/F6gTUv3O-SPX-Important-area-of-technical-rebound/) a technical rebound occurred regularly on the indicated levels.
In these hours we are in an extremely important phase. The area is indicative of a possible Bear continuation area.
Any targets are indicated in the area below $2200; A break to the upside above $ 4350 would invalidate the trade and open to long scenarios.
In these hours we are in an extremely important phase. The area is indicative of a possible Bear continuation area.
Any targets are indicated in the area below $2200; A break to the upside above $ 4350 would invalidate the trade and open to long scenarios.
Trade active
Analysis updateAfter the publication of the analysis on SPX and the opening of the SHORT position, the movement confirmed and we are now about + 7.06% from the opening of the position
The long-term movement and its target remain unchanged at the moment, at around $2200.
A further bearish confirmation, with the possibility of increasing the position is in the 3640/3630 area, there a possible break is a confirmation of the continuation of the trend.
In addition, there are opportunities to maximize gains from any rebounds both in the $ 3830/3790 (1) area, but also in the $ 3660/3593 (2) area, both of which are short closing opportunities to reopen higher.
The long-term trend remains bear, and as mentioned, we will have further confirmation in the $ 3640 area (also immediately this month?)
Note
All short-term targets have been met. The short-term short is closed pending further confirmation. Now we will wait for the evolution of the situation and we have two possible scenarios :- the less likely one, is a major rebound from $3640, with continuation of the main UP trend
- the more likely one, a break of the lows (lower lows) that will give a clear long term indication, then a confirmation of the bear market with a target on $2200.
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