SPx500 awaiting additional momentum
Updated
Hello everyone,The index price was forced to offer some side trading after recently touching the 4570.00 level, to be affected by the attempt of the Stochastic indicator to exit the overbought level, as shown in the attached drawing, and settle near 4550.00.
We would like to remind you that repeated stability above the additional support represented by the level of 4525 contributes to confirming the bullish scenario for the upcoming trading. Let us continue to wait for the price to gather additional positive momentum to facilitate the task of reaching towards 4555. By overcoming this obstacle, it will succeed in reaching the recently achieved peak, centered at 4579.
Pivot Price: 4525
Resistance prices: 4555 & 4579 & 4605
Support prices: 4492 & 4475 & 4437
The general trend expected for today: bullish
We would like to remind you that repeated stability above the additional support represented by the level of 4525 contributes to confirming the bullish scenario for the upcoming trading. Let us continue to wait for the price to gather additional positive momentum to facilitate the task of reaching towards 4555. By overcoming this obstacle, it will succeed in reaching the recently achieved peak, centered at 4579.
Pivot Price: 4525
Resistance prices: 4555 & 4579 & 4605
Support prices: 4492 & 4475 & 4437
The general trend expected for today: bullish
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