SPX: Where is the next bottom on it? Key Points for next week.
• As we thought last Friday, the index did a sharp correction this week – the link to my analysis on Oct 28 is below this post;
• It just a dual-resistance area, made by the black line at 3,911 in the daily chart (multiple support/resistance level) and by the 21 ema in the weekly chart;
• Now, the index is rejecting completely last week’s positive candlestick;
• For now, there’s no clear bullish reaction indicating we will avoid a bearish scenario to the 3,500 area again;
• However, if we see a bullish reaction, now is the best time for it, as the index is struggling around its Fibonacci’s retracements in the daily chart;
• In my view, these retracements are the most important support levels in the short/mid-term.
Remember to follow me to keep in touch with my analyses!
• It just a dual-resistance area, made by the black line at 3,911 in the daily chart (multiple support/resistance level) and by the 21 ema in the weekly chart;
• Now, the index is rejecting completely last week’s positive candlestick;
• For now, there’s no clear bullish reaction indicating we will avoid a bearish scenario to the 3,500 area again;
• However, if we see a bullish reaction, now is the best time for it, as the index is struggling around its Fibonacci’s retracements in the daily chart;
• In my view, these retracements are the most important support levels in the short/mid-term.
Remember to follow me to keep in touch with my analyses!
İlgili yayınlar
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.