EliteFxAcademy
Short

SP500 to test lower support levels

FOREXCOM:SPXUSD   US SP 500 CFD
SP500 is at very good testing level, where we can see how decision will end.

From the whole chart, buyers failed highs. Buyers are out of fuel, and probably stocks will go down, and test lower spots.

This flow is very tipical once it comes to crash. At SP500 buyers actually did very good bounce, but they can't grow confidantly after seeing strong crash on your chart.
Next phase for the market is see how strong will push sellers, so bearish momentum is important.
Secondly, how many holders will not give up, and where is next deep to defense position again from buyers mentality.

On the chart you can chack lower support level , which present targets on H4 chart.

Important! If crash will be too strong, then we can expect that market might crash even lower, especially because of fundamental reasons on what's going on in the world at the moment.

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Elitefxacademy is trading everything on its own system based on number one strategy and custom indicator 2.0

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