Hi guys this is my idea for SP500 index, Stop loss at 2960 because it could go for new high's at 3100 if liquidity will came in
Markets seems that they have lost momentum, so I expect a retracement at 2650, that is short term target trading range for next weeks would be 2650-2900, medium term target is March's low, and if it breaks that support next support is and Long term target 1800 pips
The basis for this analysis is that covid-19 crisis is at the beginning, I don't see a V shape recovery pattern,these months we have dealt with healthcare system crisis, now we will face bankruptcies, bailouts and negative balance sheets for the 2nd and 3rd trimester.
Have a Nice day and come back for updates weekly.
Markets seems that they have lost momentum, so I expect a retracement at 2650, that is short term target trading range for next weeks would be 2650-2900, medium term target is March's low, and if it breaks that support next support is and Long term target 1800 pips
The basis for this analysis is that covid-19 crisis is at the beginning, I don't see a V shape recovery pattern,these months we have dealt with healthcare system crisis, now we will face bankruptcies, bailouts and negative balance sheets for the 2nd and 3rd trimester.
Have a Nice day and come back for updates weekly.
Comment:
Comment and let me know your opinions about $SPX