This is the newest update from previous analysis.
The S&P500 tested the resistance above 2900lvl and dropped back down. The support of the channel was broken later last week and the price went on to a passive selling scheme.
A back test to the 2880lvl MA dead cross is highly likely, and if we failed breaking up, 2720 lvl would be the first target that shorts should be watching.
If the bulls lost control of the 2700-2900 consolidation zone, 2650 will be the level to watch.
Given the current market volatility and uncertainty, it would be rather helpful to make things easy and straightforward.
So, just pay more attention to critical price levels and spend less time guessing what's gonna happen.
GL trading and wish everybody a good week.
The S&P500 tested the resistance above 2900lvl and dropped back down. The support of the channel was broken later last week and the price went on to a passive selling scheme.
A back test to the 2880lvl MA dead cross is highly likely, and if we failed breaking up, 2720 lvl would be the first target that shorts should be watching.
If the bulls lost control of the 2700-2900 consolidation zone, 2650 will be the level to watch.
Given the current market volatility and uncertainty, it would be rather helpful to make things easy and straightforward.
So, just pay more attention to critical price levels and spend less time guessing what's gonna happen.
GL trading and wish everybody a good week.