$SPY is now at an important support, we are already trying to break through it, touched the weakly 200 MA.
Also at the level of 353p. there is a monthly 50 MA, there is a chance that we will test this and the main thing for us in this area is to find support with a quick exit above 365p.
If this level is broken, our next target is around 325p.
This week the data on inflation PPI index and CPI Index are released, which will cause increased volatility and determine which direction we will go.
We are leaning towards at least a small bounce due to the strong oversold of the last 2 months
Will it hold?
Also at the level of 353p. there is a monthly 50 MA, there is a chance that we will test this and the main thing for us in this area is to find support with a quick exit above 365p.
If this level is broken, our next target is around 325p.
This week the data on inflation PPI index and CPI Index are released, which will cause increased volatility and determine which direction we will go.
We are leaning towards at least a small bounce due to the strong oversold of the last 2 months
Will it hold?
