Index approaches key descending trend line
The S&P500 index pushes upwards and trades towards the recent high.
In addition, the index is also progressively trading towards the longer time frame descending trend line. Short term bullish outlook remains intact as the index trades above the ascending trend line.
The short term ascending trend line remain as an important indicator because it can indicate a potential retracement or even reversal if the trend line does not hold.
In addition, the index is also progressively trading towards the longer time frame descending trend line. Short term bullish outlook remains intact as the index trades above the ascending trend line.
The short term ascending trend line remain as an important indicator because it can indicate a potential retracement or even reversal if the trend line does not hold.
