SPX500 approaching resistance, potential drop!

27 בנוב׳ 2018

SPX500 is approaching our first resistance at 2676 (horizontal pullback resistance, 38.2% fibonacci retracement, 61.8% fibonacci extension) and a strong drop might occur pushing price down to our major support at 2600 (horizontal swing low support, 100%, 61.8% fibonacci extension, 78.6% fibonacci retracement, support level on 4h chart).
Stochastic (89,5,3) is also approaching resistance and we might see a corresponding drop in price should it react off this level.
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