SPX500 has declined from 2958 which maybe a short-term high because of the trade war escalation with China in the beginning of May.
But will it still drop in the future and where is the end in short term? I don't think so.
Below the current price, there is a good demand zone which may stop the drop.
Meanwhile, the 0.382RET locates at 2712 level which is in that zone as well.
So it is good to buy at 2679-2713 when the price hit the PRZ.
SL: below 2615
TP: 2860
But will it still drop in the future and where is the end in short term? I don't think so.
Below the current price, there is a good demand zone which may stop the drop.
Meanwhile, the 0.382RET locates at 2712 level which is in that zone as well.
So it is good to buy at 2679-2713 when the price hit the PRZ.
SL: below 2615
TP: 2860
Note
Yes, buy it.Trade closed: target reached
Very Good!
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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.