KonradK1

S&P 500 Long opportunity on the Daily

Long
OANDA:SPX500USD   S&P 500 Index
-Pullback this week presents good prices for investors to get back in with better prices
-Friday's selling showed relatively big amounts of volume suggesting panic selling
-The chart seems to be reacting to previous support areas which adds to the case of a bounce back or presents new opportunities for shorts if they're broken and hold
-RSI at ~26 suggesting its oversold


-Good R:R of over 2 using 3000 level as the next significant resistance, can take that as target 1 and play until previous highs for target 2
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.