SPX500USD testing its resistance, potential to drop!
SPX500USD is testing its resistance at 2709 (100% Fibonacci extension, 61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap resistance) where it could potentially drop its first support at 2675 (23.6% Fibonacci retracement, horizontal pullback support). If it breaks past this level, it could potentially fall to its next support at 2629 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing low support).
Stochastic (89, 5, 3) is approaching its resistance at 99% where a corresponding reaction could occur. We have also identified a bearish divergence with price which contributes to our bearish bias.
Stochastic (89, 5, 3) is approaching its resistance at 99% where a corresponding reaction could occur. We have also identified a bearish divergence with price which contributes to our bearish bias.
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