ThinkingAntsOk

What can we expect from the Index?

CURRENCYCOM:US500   S&P 500
Today we will analyze long and short scenarios on S&P500 Futures .

Let's start with the Daily Chart:

a) Here, we can see that the next relevant resistance zone is the higher trendline of the Daily Wedge (3850-3880)

b) That's our Final target for the current impulse (meaning that we wait for a corrective movement, proportional to the current bullish trend )


Now we will analyze the 4hs chart:

a) The price its on the edge of an ascending trendline

b) Another relevant item is that the price is moving on an ascending channel , showing some weakness of the current trend

c) We think the most likely scenario its a bullish continuation from current levels 3660 towards the upper trendline of the ascending channel

d) However, we are ready in case of a reversion. IF the price reaches the red line, we will wait for contact on the support zone + pullback. If that happens, we will develop short setups below the pullback with a target at 3300

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Comments

thank you so much for sharing, this is my view
Reply
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