Good week everyone,
Quick and clean look at SPX,
Price failed to break and accelerate upside last week and closed under 2815 HUGE resistance level, now we must look for some support levels where spx may go.
Current candle show another rejection on 2815 level so far.
2740 + 50weekly EMA is the first strong support zone where we can expect some indecision or rejection
Should the price break this support then 2675 is the next stop.
The IMO final support level is at 2600 and i dont expect this support to be broken unless some huge bearish and unpredictable fundamentals are released.
Overall, be cautious about shopping right now, dangerous zone we are =)
Enjoyed? leave a like, thanks.
Quick and clean look at SPX,
Price failed to break and accelerate upside last week and closed under 2815 HUGE resistance level, now we must look for some support levels where spx may go.
Current candle show another rejection on 2815 level so far.
2740 + 50weekly EMA is the first strong support zone where we can expect some indecision or rejection
Should the price break this support then 2675 is the next stop.
The IMO final support level is at 2600 and i dont expect this support to be broken unless some huge bearish and unpredictable fundamentals are released.
Overall, be cautious about shopping right now, dangerous zone we are =)
Enjoyed? leave a like, thanks.
Comment:
Quick update, if weekly candle close above 2860 then SPX will likely re-test current high at 2940.
Despite i was wrong on initial prediction im definetly not rushing into spx long because we are on huge resistances zone. Careful and have a good week guys
Despite i was wrong on initial prediction im definetly not rushing into spx long because we are on huge resistances zone. Careful and have a good week guys
Current top is at 2860