SPX: Hit a Key Resistance! What's next?
• The SPX hit its key resistance at 3,900 and it failed in breaking it;
• This is a sign of weakness, and by confirming a top sign under its resistance, a pullback is very likely to occur;
• The next support area on SPX is around 3,780 – 3,760, around the 21 ema and the previous top level seen on Oct 18 (red line);
• For now, let’s keep these support and resistance levels in mind. The index must react as soon as possible in order to avoid a correction, and if it breaks the resistance, the next target would be the 4,100 area.
Remember to follow me to keep in touch with my analyses!
• This is a sign of weakness, and by confirming a top sign under its resistance, a pullback is very likely to occur;
• The next support area on SPX is around 3,780 – 3,760, around the 21 ema and the previous top level seen on Oct 18 (red line);
• For now, let’s keep these support and resistance levels in mind. The index must react as soon as possible in order to avoid a correction, and if it breaks the resistance, the next target would be the 4,100 area.
Remember to follow me to keep in touch with my analyses!
📚 DOWNLOAD OUR EBOOK ON TECHNICAL ANALYSIS FOR FREE!
✅ LEARN TO TRADE IN PRACTICE AND IN REAL TIME! CHECK OUT OUR WEBSITE FOR MORE DETAILS:
👉thefinancehydra.com/joinusnow
✅ LEARN TO TRADE IN PRACTICE AND IN REAL TIME! CHECK OUT OUR WEBSITE FOR MORE DETAILS:
👉thefinancehydra.com/joinusnow
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.