SPX: At the bottom of a Descending Channel.
• The index crashed again yesterday, and it lost the support at 3,949, and hit the bottom of its Descending Channel;
• What’s more, the 21 ema did a good job holding the price, as it worked as a resistance yesterday;
• Now that the index is in a support level, a bullish reaction is plausible;
• If the SPX confirms a bottom in this support area, it might indicate that it’ll look for its resistances again. Ideally, it will seek the upper trend line of its channel;
• Since the trend is bearish, a bullish reaction should be considered a bounce. In order to reverse the bearish bias, we must see a bullish reversal structure.
Remember to follow me to keep in touch with my daily analysis!
• What’s more, the 21 ema did a good job holding the price, as it worked as a resistance yesterday;
• Now that the index is in a support level, a bullish reaction is plausible;
• If the SPX confirms a bottom in this support area, it might indicate that it’ll look for its resistances again. Ideally, it will seek the upper trend line of its channel;
• Since the trend is bearish, a bullish reaction should be considered a bounce. In order to reverse the bearish bias, we must see a bullish reversal structure.
Remember to follow me to keep in touch with my daily analysis!
פרסומים קשורים
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.