US500 A MASSIVE ZONE AHEAD!

1 במאי 2023

Hello Traders and everyone, I am Hadi Karaali, Known as SNIPERS_FX

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S&P 500 QUICK UPDATE

As we can see price is still overall bullish trading inside this flat rising channel.

However, and for now price is still sitting around a strong resistance zone and still looking for new bearish movements,
Unless ofcourse price managed to break above the resistance zone, then we this scenario will not be valid.

And for the resistance to be broken we need at least a momentum candle close above 4200 and previous major high,

Then a movement higher would be expected till the upper bound of the channel lining up with the upper resistance zone, where we will be looking for new bearish reversal.

Meanwhile, if the rejected our resistance zone, then a further bearish movement would be expected till the lower support zone, where we will be looking for new longs.


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and as usual follow your trading plan and manage your risk.

Be patient and good luck!