US500 Will Move Higher! Buy!

6 בפבר׳

Take a look at our analysis for US500.

Time Frame: 1D
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish

The market is approaching a significant support area 4939.4.

The underlined horizontal cluster clearly indicates a highly probable bullish movement with target 5100.0 level.

P.S
The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce.
Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news.

Like and subscribe and comment my ideas if you enjoy them!

8 בפבר׳

הערה

I am confident in this trade so I will keep it open!