TheAnonymousBanker

SP500: Consolidation in Short Term?

Short
OANDA:SPX500USD   S&P 500 Index
Hi Traders!
Medium and Long-Term Trends are bullish, but in short term SP500 could remain bearish even after a pullback. If we look at daily chart, the Price Action is approaching an important support area around 4,305, if from here it triggers a bullish leg, it's possible a harmonic structure formation (for us, bearish). Having said that, we have a first Target Area around 4,275 and subsequently 4,220.

Trade with care
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Comment:
๐Ÿ“Š Support Area:
Comment:
๐Ÿ“Š Perfect reaction on our 4,304.6 support:
Comment:
๐Ÿ”ด Limited rebound
Trade closed: target reached:
โœ… Target 1 hit:
Comment:
๐Ÿ“Š Now, our support area on the daily chart has become our resistance area:
Trade closed: target reached:

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Analysis made with ๐Ÿ’
By Anonymous Banker
A TradingView Fan since 2015
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