S&P: Triangle expected to break upwards. Bullish.

The index has developed a Triangle on 1D (RSI = 45.946, CCI = -19.2621, Highs/Lows = 0.0000) following last week's decline near 2,670. On the positive side the 0.618 Fibonacci level (2,684.75) was only broken that one time on 1D and has since held support. If that level stays intact then the Triangle has more chances to break higher with 2,767 as the first Resistance before the critical 2,824.75 test. We are still bullish on medium term with TP = 2,893.




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