$SPX Index forming a triple low and continue to be in a channel
Sun 09.Dec.2018 12:13
Ticker: SPX
LAST= 2,633.08
S&P 500 INDEX movement during the last few days showed a Bearish move, with a recent low price seen on Thu 06.Dec.2018 at 2,621.53 forming a triple lows formation at around 2,635.00 level and continue to be within the channel formed since mid October
During the next few days the price is expected to go down to 2,620.00 just to test the strength of the lower level of the channel .
The view for the Short-Term is expected to continue to be DOWN as long as the price is below 2,647.55. And its recommended to ' BE SHORT ' for a targeted price of around 2,625.00 and then may continue to the first and second support levels.
On the other hand, a change in the direction of the general trend needs to be considered when the price trades above the level 2,745.00
Res_2 = 2,690.50
Res_1 = 2,644.00
Sup_1 = 2,597.55
Sup_2 = 2,550.00
Ticker: SPX
LAST= 2,633.08
S&P 500 INDEX movement during the last few days showed a Bearish move, with a recent low price seen on Thu 06.Dec.2018 at 2,621.53 forming a triple lows formation at around 2,635.00 level and continue to be within the channel formed since mid October
During the next few days the price is expected to go down to 2,620.00 just to test the strength of the lower level of the channel .
The view for the Short-Term is expected to continue to be DOWN as long as the price is below 2,647.55. And its recommended to ' BE SHORT ' for a targeted price of around 2,625.00 and then may continue to the first and second support levels.
On the other hand, a change in the direction of the general trend needs to be considered when the price trades above the level 2,745.00
Res_2 = 2,690.50
Res_1 = 2,644.00
Sup_1 = 2,597.55
Sup_2 = 2,550.00