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2009-2021 trendline points to 5150 pips. Ascending channel points to 5300 pips by April 2024. butterfly harmonic pattern suggest the beginning of a downtrend. Therefore; top at these key levels by 2 months time.
Possible target by April 2024. 5300 pips Ascending parallel channel formation Harmonic butterfly pattern 2.32 Fib 5025 and 5000 major support.
On the Daily TF, Price Action on SPX is holding a strong uptrend on within a large ascending channel (bearish pattern). The current daily candle is an indecision candle which is being printed at the resistance area of the channel, accompanied by a Larkuidity Sweep signal via the Jeanius Algo. Note: There is an imbalance between 5088.79 and 5038.70. There is also...
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Good day my fellow traders. Sending you a heads on a triple top pattern on the 1hr SPX. Target @ 4979.6 area. Remember target price is an area we shoot for but no guarantee that price will hit that spot on the dime, so pay attention to candles and look for reversal around that price range. Best of luck in all your trades :) $$$
Sr. Technical Strategist Michael Boutros (@MBForex) highlights the targets & invalidation levels that matter on the technical charts into the weekly-open / monthly-close.
Forex, Stock, Crypto Weekly Market Outlook from 26 FEB to 1 March 2024 will be live at 11 GMT on Monday
Expecting a pull back and possibly a throw under of the trend line. SPX to finish the year around 5200-5300 before moving higher in 2025
Top down analysis of the front delivery month for Crude Oil. My thoughts for the week & day trading ideas. These ideas are educational and should not be taken as trading or investing advice.
Using different timeframes for analysis is a crucial aspect of trading GBP/USD (British Pound/US Dollar) effectively. Here's how traders can utilize various timeframes to gain insights and make informed trading decisions:
On Friday a significant round level of 5100 points on S&P 500 was tested. Buying should still be reasonably cautious due to the presence of triple divergence on the RSI indicator. Short-term consolidation is likely. The nearest support is around 5040 points, and a potential sentiment reversal point is located around 4950 points (recent low in the area of the...
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Join FXCM senior market specialist Russell Shor for a general review of the financial markets.
US500: Only Bullish After the FOMC minutes and the comments from the FED that the Inflation was moving down to their target, this created some weakness for the USD. All these moves are related to the FOMC and the rate cut. Nothing surprising so far. After the price broke out from the bullish pattern and also from a strong psychological zone near 50500 the...
During the previous week the S&P 500 reached its new all time highest values by hitting 5.100. Tech companies were again the ones which were driving equity markets to the higher grounds. NVDA was the most discussed stock during the previous week, as its results show continuously strong performance. As per latest published results for Q4, Nvidia`s revenues were...
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