The S&P500 has been inside a Channel Up ever since the October 13th market bottom.
Even though it didn't make a proper Higher High in February, the recent correction is still contained inside the Channel Up.
The MA50 1D is holding. If the price makes a closing under it, the Rising Support assumes controls of the trend and becomes the prevailing pattern.
Trading Plan:
1. Buy now as long as the price is closing over the MA50 1D.
2. If it closes below, buy on the Rising Support.
Targets:
1. 4140 (under Resistance Zone A) and 4300 if the price closes above Resistance Zone A.
2. 4300 (representing a +11.35% rise from the Rising Support, which is a price range delivered in both previous rebounds on this Rising Support). Also under Resistance B.
Tips:
1. The MACD 1D shows that there is still room to fall before finding a Support, enhancing Scenario 2. Lower risk buy after it makes a Buy Cross.
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Even though it didn't make a proper Higher High in February, the recent correction is still contained inside the Channel Up.
The MA50 1D is holding. If the price makes a closing under it, the Rising Support assumes controls of the trend and becomes the prevailing pattern.
Trading Plan:
1. Buy now as long as the price is closing over the MA50 1D.
2. If it closes below, buy on the Rising Support.
Targets:
1. 4140 (under Resistance Zone A) and 4300 if the price closes above Resistance Zone A.
2. 4300 (representing a +11.35% rise from the Rising Support, which is a price range delivered in both previous rebounds on this Rising Support). Also under Resistance B.
Tips:
1. The MACD 1D shows that there is still room to fall before finding a Support, enhancing Scenario 2. Lower risk buy after it makes a Buy Cross.
Please like, follow and comment!!
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Also doing account management, earn +15% monthly profit!
👉CONTACT: t.me/tradingbrokersview
Stop gambling with your trades! 🎰
Start being profitable! 💰