SPX500USD Is Bullish! Buy!

Take a look at our analysis for SPX500USD.

Time Frame: 9h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish

The market is trading around a solid horizontal structure 5117.4.

The above observations make me that the market will inevitably achieve 5183.6 level.

P.S
The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce.
Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news.

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Comment:

I evaluated the trade and decided to keep it running!